Petro

Cuba agrees to regulate, recognize cryptos citing ‘socio-economic interest’

Two weeks ahead of El Salvador’s official adoption of Bitcoin as legal tender, another Latin American nation has decided to officiate the use of cryptocurrencies. According to recent reports, the Cuban government has said that it wants to “recognize and regulate” the use of digital assets in the nation. A resolution was published in the nation’s Official Gazette today, one which revealed that the Cuban Central Bank will soon be implementing rules for the use of cryptocurrencies. Additionally, it will also be determining the licensing requirements for crypto-service providers within

Venezuela May Soon Be Collecting Taxes in Crypto

The Bolivarian Council of Mayors in Venezuela signed the so-called "National Tax Harmonization Agreement" for 305 municipalities in the country, including the Petro (PTR) as a means to collect payments of taxes and sanctions.The cryptocurrency is becoming increasingly widely used as the result of a new campaign. According to the government, the vice president of Venezuela, Delcy Rodríguez, will be in charge of implementing a single registry of taxpayers through a digital consultation tool.She will also be in charge of creating an information exchange and monitoring system for companies to record

As Hospital’s Crumble, Venezuela’s President Airdrops Petros to Doctors

Nicolas Maduro, a former bus driver and Venezuela’s sitting president, has announced a campaign to support his country’s medical staff amid the coronavirus pandemic by airdropping one Petro to each doctor.The ‘Doctors of the Homeland’ initiative will see each Venezuelan doctor air-dropped one of the administration’s oil-backed Petro cryptocurrency tokens, as per an April 2 tweet published by a government official. Venezuela to issue Petro bonus to doctorsThe tokens will be distributed using Venezuela’s ‘Patria System’ — a platform launched by the government to bypass the nation’s failing banking system and