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Venezuela implements measures for the adoption of the petro and other cryptocurrencies

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The Bank of Venezuela "BDV" and the National Superintendency of Cryptocurrencies of Venezuela, "SUNACRIP", announced on September 30, 2020, the enabling of a service to acquire petros.

Following the guidelines issued by the President of Venezuela Nicolás Maduro, in offering products in cryptocurrencies, the bank reported the activation of the service through its twitter account.

The National Executive announced through its official Twitter account that the Bank of Venezuela (BDV) should become a "great axis of the Petro System, of all cryptocurrencies and convertible currencies that are being handled in the country."

Anti-block project drives the adoption of Petro and cryptocurrencies

The president of Venezuela, Nicolás Maduro, presented on September 29 before the National Constituent Assembly, the project of “Special Anti-Blockade Constitutional Law for National Development and the Guarantee of Human Rights, in order to evade the sanctions imposed by the USA.

The bill seeks to implement the adoption of the petro, and of "all cryptocurrencies of the world, state and private for national and foreign trade ”, as well as defending the human rights of Venezuelans and consolidating the complementary income system of the country's workers.

The anti-blockade law will be in force for the duration of the blockade, according to the state media vtv.gob.ve

New regulation for cryptocurrency mining

As part of the measures carried out by the National Executive in the adoption of the petro, they recently announced a new law on regulation for cryptocurrency mining in the country.

The ruling published in the Official Gazette No. 41,969 On September 21, 2020, it establishes that the National Superintendency of Cryptocurrencies of Venezuela, “SUNACRIP”, will be the entity in charge of regulating the activities related to the use, import and commercialization of digital mining equipment.

This new regulation establishes the creation of a National Digital Mining Pool, in order to register and control all miners in the country and warns that miners who are not registered will be subject to sanctions by SUNACRIP.

Provide financing for agricultural producers through the petro

Ministry of Popular Power for Agriculture and Lands, Wilmar Castro Soteldo, will deposit 80 thousand Petros in the treasury of Cryptocurrency Venezuela, through Agrosur, according to the state media Vtv.

"This week we formalized the delivery of those 80 thousand Petros, and we delivered them as part of the income that Agrosur has in CriptoActivos, to the National Treasury," said the ministerial chief.

The minister reported that the Ministry of Popular Power for Food, Public and Private Banking, Agrosur, Agropatria and companies of the Ministry, have created strategic alliances so that "the cryptocurrency begins to move progressively."





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