Venezuela to Incorporate Bitcoin and Litecoin Wallets into National Remittanc...
Venezuela says it will incorporate bitcoin and litecoin wallets to its Patria’s Cryptocurrency Remittance Platform. In an update, authorities in the country say this move will enable Venezuelan citizens to formally receive remittances in cryptocurrency form. Many citizens of hyperinflation hit Venezuela already use bitcoin as a store of value as well as for cross border payments. Plans of Adding Bitcoin-Petro Trading Pairs The formal incorporation of bitcoin into the national remittances system will likely boost the use of cryptos by Venezuelans. The country already ranks third on....
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Reports say Venezuela has now legalized bitcoin mining following the decree recently issued by the National Superintendency of Crypto Assets and Related Activities (Sunacrip). As part of the new regulations, all entities and individuals interested in legally mining bitcoin and other cryptocurrencies must now apply for a license from the agency. According to a report, the decree will result in the creation of a National Digital Mining Pool (NDMP), a body that “seeks to bring together all the miners operating on the Venezuelan territory.” Meanwhile, the decree document, which....
President Nicolas Maduro stated that Venezuela was a pioneer in cryptocurrency adoption in Latam in an interview with Bloomberg last week. Venezuela is still one of the first cryptocurrency volume movers in South America. However, the petro token, its official cryptocurrency, has failed to pick up steam in national and international markets. President Nicolas Maduro Reaffirms Venezuelan Pioneer Status in the Cryptocurrency Field Venezuelan President Nicolas Maduro reaffirmed the pioneer action that Venezuela had on crypto adoption in Latam. The statements were given during an interview....
If you're new to the cryptocurrency world, you'd be forgiven for not having heard of litecoin. The currency, which was created by Charles Lee in 2011, is the second largest digital currency next to bitcoin. Here is our guide to what you need to know. Knowing your litecoin from your bitcoin. If you are used to using bitcoin, litecoin holds few surprises - if you're not yet initiated, read our guides on What is bitcoin and Why use bitcoin. The ideas in those guides also apply to litecoin. The primary desktop application is a modification of Bitcoin-QT client, and can be downloaded from....
The Bank of Venezuela, one of the biggest state banks in the country, is now experiencing an outage that has left its customers without services for five days. The bank published a PR statement stating this was the result of a “terrorist attack” on the national financial system, being perpetrated in the form of a massive hack. More than 16 million customers are still without banking services at the time of writing.
Bank of Venezuela Hacked In “Terrorist Attack”
The Bank of Venezuela, one of the biggest financial institutions in the country, servicing....
Venezuela president Nicolas Maduro says the country is to start using cryptocurrency in both domestic and global trade, as part of efforts to neutralize crippling U.S. economic sanctions. Speaking in the country’s parliament on Sept. 29, Maduro revealed that the move will “give new strength to the use of petro and other cryptocurrencies, national and global, in domestic and foreign trade…” The country has already been trying to use its national crypto, the petro, for this purpose but without much success. Maduro was delivering an anti-sanctions law aimed at....