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World Maduro bids to revive Venezuela's 'petro' cryptocurrency

03:55  15 january  2020
03:55  15 january  2020 Source:   msn.com

Venezuelan opposition leader says talks with Maduro unlikely

  Venezuelan opposition leader says talks with Maduro unlikely Venezuela's opposition leader and self-declared acting president Juan Guaido said Saturday it is unlikely he will resume negotiations with President Nicolas Maduro. Guaido's apparent refusal to resume dialogue followed a new US drive toward diplomacy, almost a year after the US declared Maduro illegitimate and recognized Guaido as interim president. "Negotiations could open the path out of the crisis through a transitional government that will organize free and fair elections," Secretary of State Mike Pompeo said.

Venezuelan President Nicolas Maduro gestures during an address to the Constituent Assembly in Caracas AFP. Maduro used his annual speech to the ruling Constituent Assembly to try to revive the controversial petro that has been banned by the United States and labeled a "scam" by some risk

President Nicolas Maduro pledged to revive Venezuela ’ s failed cryptocurrency for everything from oil sales to passport fees in his state of the union address to the Maduro said state-run Petroleos de Venezuela SA would begin “exploratory sales” of 50,000 barrels a day in Petros , after which it would

President Nicolas Maduro on Tuesday decreed that airlines flying from Caracas must pay for fuel in Venezuela's ailing "petro" cryptocurrency, which he ordered to be more widely used in the cash-strapped South American country.

Nicolas Maduro wearing a suit and tie: Venezuelan President Nicolas Maduro gestures during an address to the Constituent Assembly in Caracas© Federico Parra Venezuelan President Nicolas Maduro gestures during an address to the Constituent Assembly in Caracas

Maduro used his annual speech to the ruling Constituent Assembly to try to revive the controversial petro that has been banned by the United States and labeled a "scam" by some risk rating bodies.

"I decree the sale of all fuel sold by the PDVSA for planes operating international routes be made in petros from now on," the socialist leader told the all-powerful Assembly, created by Maduro himself to sideline the opposition-controlled National Assembly.

Guaido says Venezuela police block access to parliament

  Guaido says Venezuela police block access to parliament Venezuela's opposition leader Juan Guaido hit out at the police on Sunday for preventing him from attending the National Assembly where he was due to be voted in for a second term as parliament speaker. But when he arrived at the assembly on Sunday morning, police prevented him from entering. "This is unprecedented!" Guaido told a member of the security forces with whom he had a heated exchange.For the last year, Guaido has led opposition to Venezuela's socialist president Nicolas Maduro.

(21 Feb 2018) Venezuela on Tuesday became the first country to launch its own version of bitcoin, a move it hopes will provide a much-needed boost to its

Maduro : venezuela to create new ' petro ' cryptocurrency Dec. 4 (UPI) -- Venezuela will create a new cryptocurrency backed by oil reserves and other natural

Nicolas Maduro wearing a suit and tie talking on a cell phone: Maduro raises a clenched fist as he arrives to make his annual address to Venezuela's Constituent Assembly in Caracas© Federico Parra Maduro raises a clenched fist as he arrives to make his annual address to Venezuela's Constituent Assembly in Caracas

Maduro also decreed the mandatory use of the petro to pay for state document services including passports.

Backed by Venezuela's vast oil reserves, the petro was introduced in 2018 as a way to circumvent wide-ranging US sanctions and overcome chronic liquidity shortages.

Maduro wants the virtual currency to become a widely used means of payment by Venezuelans, yet most people have no idea how to use it.

Risk rating websites such as icoindex.com describe the petro as a "scam."

US throws support behind Venezuela negotiations

  US throws support behind Venezuela negotiations The United States on Thursday threw its support behind negotiations in Venezuela, saying talks could establish a transitional government, lead to fresh elections and bring an end to the country's long-running political crisis. The statement came as opposition leader Juan Guaido, who this week survived attempts to remove him as head of the National Assembly, called new protests in hopes of rekindling momentum in his quest to topple leftist President Nicolas Maduro.

Venezuela ' s maduro announces ‘ petro ' cryptocurrency The leader of Venezuela , Nicolas Maduro , has announced that the country will launch its own

In a bid to save Venezuela from hyperinflation, embattled President Nicolás Maduro has mandated that his Petro cryptocurrency become the nation’ s second official currency. By August 20, Venezuela will have two new official currencies: the “sovereign Bolivar” and the Petro cryptocurrency – valued

But while the petro has failed to win investor confidence, other cryptocurrencies have proved hugely popular in Venezuela as a refuge against hyperinflation.

Maduro last December approved bonuses in petros for public employees and pensioners. However, experts said the petros were quickly changed back to bolivars and then to other currencies.

The government last week blocked the exchange of petros for bolivars.

Maduro did not specify whether the fuel payment measures introduced at Caracas airport concerned Venezuelan companies alone or if they extended to international carriers.

International links to Venezuela have been severely restricted since the beginning of a crippling economic crisis seven years ago.

The capital's Maiquetia Airport is still serviced by Air France, Iberia, Portugal's TAP, Air Europa and Panama's Copa Airlines.

But there are no longer direct flights to the United States, due to sanctions imposed by Washington aimed at removing the socialist leader from power.

Caracas owes $3.8 billion to international carriers, according to the International Air Transport Association IATA.

Largest Crypto Options Exchange Heads for Panama Amid Scrutiny .
Deribit, the world’s dominant exchange for trading cryptocurrency options, is relocating to Panama from the Netherlands next month in anticipation of rising regulatory scrutiny. The Netherlands is likely to adopt new European Union regulations that “would mean that we have to demand an extensive amount of information from our current and future customers,” the Amsterdam-based company said in a letter to customers obtained by Bloomberg News. Deribit accounts for about 80% of Bitcoin options volume, according to data tracker Skew.

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