{"id":1640,"date":"2018-02-27T05:16:15","date_gmt":"2018-02-27T05:16:15","guid":{"rendered":"https:\/\/atozcrypto.org\/?p=1640"},"modified":"2018-02-27T05:16:15","modified_gmt":"2018-02-27T05:16:15","slug":"venezuela-orders-government-services-to-accept-any-cryptocurrency","status":"publish","type":"post","link":"https:\/\/atozcrypto.org\/venezuela-orders-government-services-to-accept-any-cryptocurrency\/","title":{"rendered":"Venezuela Orders Government Services to Accept Any Cryptocurrency"},"content":{"rendered":"

Venezuela\u2019s president Nicolas Maduro has ordered the country\u2019s consular services, as well as several other services and gas stations, to accept any cryptocurrency including the nation\u2019s own petro. In addition, he has announced the launch of another cryptocurrency, this time backed with gold.<\/strong><\/p>\n

Maduro\u2019s Orders<\/h2>\n

Maduro has ordered various government services to accept any cryptocurrency including the petro, Venezuela\u2019s oil-backed currency which began its private\u00a0pre-sale<\/a>on February 20.\u00a0This announcement was broadcasted nationwide from the Miraflores Palace and also reported on the website of the Superintendency of Cryptocurrencies. The president said:<\/p>\n

“I order the payment of consular services in all embassies and\u00a0<\/i><\/b><\/p>\n

 <\/p>\n

consulates of the Bolivarian Republic of Venezuela in the world, [and] all consular services in the country, in the petro currency or in any cryptocurrency”.<\/i><\/b><\/p>\n

\"\"<\/p>\n

Maduro also announced that \u201cthe National Association of Airlines will be able to pay in petro or in any cryptocurrency [for] the fuel and the servicesassociated to\u00a0the airlines in the rendering of their services in Venezuela.\u201d<\/p>\n

Furthermore, he ordered \u201ca manual be established for the payment of tourist services in the country through the Venezuelan cryptocurrency or any other virtual currency.\u201d According to him, \u201cservice providers, hotels, inns, national and international tourist services\u201d asked him for authorization so they can \u201cbegin charging in cryptocurrencies and petro.\u201d<\/p>\n

Crypto Accepted at Border Gas Stations<\/h2>\n

\"\"At the petro launch event, Maduro also revealed, \u201cwe are going to establish new international gasoline services at the border.\u201d<\/p>\n

He elaborated that his government \u201cwill charge in petro [for] all Venezuelan fuel that is sold in the service stations located at the different points of the border of Venezuela and Colombia.\u201d Citing that several service stations are charging in Colombian pesos and bolivars in international prices, he declared that starting on Wednesday:<\/p>\n

“In the revitalized gasoline services plan to combat the smuggling of gasoline at the border, we will proceed to charge in all cryptocurrencies, especially the petro”.<\/i><\/b><\/p>\n

Major State-Owned Companies to Use Petro<\/h2>\n

\"\"The Superintendency of Cryptocurrencies confirmed on Wednesday that three state-owned companies \u201cwill also make sales and purchases with the petro.\u201d They are the oil and natural gas company Petr\u00f3leos de Venezuela (Pdvsa), its petrochemical subsidiary Pequiven, and the conglomerate Venezuelan Guayana Corporation (Cvg).<\/p>\n

Consequently, Maduro explained that \u201csuppliers and creditors of these companies must conduct their commercial transactions of purchase-sale in a percentage of their products and supplies in the petro [starting] from today.\u201d<\/p>\n

Furthermore, during a Patria Para Todos (PPT) party event on Wednesday, the Venezuelan president revealed that:<\/p>\n

“Next week we will launch the petro-gold that will accompany the petro\u2026We already have 36 exchange houses in the world that are working with Venezuela and the petro.”<\/i><\/b><\/p>\n

Petro Skeptics<\/h2>\n

\"\"Since the launch of the petro, many skeptics have expressed doubt towards the cryptocurrency. Harry Colvin, director and senior economist at Longview Economics, told CNBC that it is doubtful the petro will be a success, adding that \u201cVenezuela has been known for misappropriation of assets in the past and the central bank has just created hyperinflation so I imagine there\u2019ll be trust and transparency issues.\u201d<\/p>\n

Moreover, the Venezuelan National Assembly has already declared the petro\u00a0illegal<\/a>ahead of its launch. \u201cIf Maduro loses the election in April \u2013 or is forced out of power \u2013 then petros would probably be made illegitimate,\u201d Colvin noted.<\/p>\n

Johns Hopkins professor Steve Hanke, a noted economist and Senior Fellow of the Cato Institute,\u00a0tweeted<\/a>\u00a0on Wednesday:<\/p>\n

With Venezuela\u2019s traditional currency failing, why should investors have any faith that the petro will be a stable currency. The petro is just another desperation play by Maduro.<\/i><\/b><\/p>\n

What do you think of Maduro\u2019s plans? Let us know in the forum<\/a> section.
\nImages courtesy of Shutterstock and the Venezuelan government.<\/em><\/p>\n

Source: Bitcoin.com<\/p>\n","protected":false},"excerpt":{"rendered":"

Venezuela\u2019s president Nicolas Maduro has ordered the country\u2019s consular services, as well as several other services and gas stations, to accept any cryptocurrency including the nation\u2019s own petro. In addition, he has announced the launch of another cryptocurrency, this time backed with gold. Maduro\u2019s Orders Maduro has ordered various government services to accept any cryptocurrency …<\/p>\n","protected":false},"author":1,"featured_media":1641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pgc_meta":"","_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[15],"tags":[],"aioseo_notices":[],"yoast_head":"\nVenezuela Orders Government Services to Accept Any Cryptocurrency - AtoZcrypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/atozcrypto.org\/venezuela-orders-government-services-to-accept-any-cryptocurrency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Venezuela Orders Government Services to Accept Any Cryptocurrency - AtoZcrypto\" \/>\n<meta property=\"og:description\" content=\"Venezuela\u2019s president Nicolas Maduro has ordered the country\u2019s consular services, as well as several other services and gas stations, to accept any cryptocurrency including the nation\u2019s own petro. 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