Venezuela’s State-Run ‘Defi’ Crypto Exchange Goes Live After Maduro’s Anti-Bl...
Decentralized finance (defi) is allegedly coming to Venezuela after a recent decree from Venezuelan President, Nicolás Maduro and the United Socialist Party of Venezuela. The government recently introduced a defi platform called BDVE that purportedly provides Venezuelan citizens with the means to swap ERC20 tokens in a noncustodial manner. For quite some time now Venezuela has had to deal with strict economic sanctions. President Nicolás Maduro spoke about these sanctions in a new mandate called the “Anti-blockade Law for National Development and the Guarantee of Human....
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Crypto garnered another mention in one of Maduro's bombastic speeches. The President of Venezuela Nicolas Maduro says that the country's government is now looking at diverse cryptocurrencies as a potential way of avoiding sanctions.On Sept. 29, Maduro presented a new bill that intends to help the country overcome the impact of United States’ sanctions. As part of the bill, Venezuela will study the possibility of using various cryptocurrencies in both domestic and foreign trade. Maduro claimed that the new anti-sanctions bill involves both private and state-backed crypto initiatives like....
The people of Venezuela are starving. There is a shortage of food and medicine, says Reuters, while recounting a terribly saddening story of a Venezuelan mother giving away her child. They live on $6 a month. “Just one chicken meal would now burn up half [of their] monthly income.” BBC The BBC says that “T]his will be a difficult Christmas for thousands of impoverished Venezuelan families, some of whom are now facing genuine hunger.” Once one of the richest nation in South America, Venezuela has been brought to its knees, seemingly overnight. The sudden fall in oil prices has led to a....
Venezuela’s peer-to-peer bitcoin activity has been extraordinary, whether measured as an absolute or relative to GDP, according to CoinDesk Research data.
The emergency cryptocurrency provisions in the United States infrastructure bill target DeFi says Jake Chervinsky. During a podcast on Bankless State of the Network, the general counsel for Compound and DeFi’s Chairman of the Blockchain Association declares that infrastructure bills have “blindsided” the industry through cryptocurrency tax provisions. The announcement came nine days before its […]
The weakening economy of Venezuela under the regime of President Nicolas Maduro is forecast by the International Monetary Fund to reach a consumer-price inflation rate of 480 percent by the end of this year, and peak at 1,640 percent in 2017. Venezuela’s growing financial crisis and economic collapse also pressured the government to announce a state of “economic emergency,” which immediately gave the Venezuelan government full control over the goods, assets, properties and food of private companies. The state of “economic emergency,” which was extended for another 60 days by Maduro on July....