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Venezuelan Government Accused of Using Bitcoin to Bypass US Sanctions

<header class=”article__header”> </header> <strong>Nicolás Maduro and the United Socialist Party of Venezuela have been accused of circumventing financial blockades imposed by the U.S. government. According to local reports, Maduro’s regime evades sanctions with cryptocurrency alongside an airline application called Jetman Pay. Allegedly, Jetman Pay collects airline taxes from travelers who purchase tickets from Maiquetía International …

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OTC Groups and State-Sanctioned Exchanges Start Trading Venezuela’s Petro

<header class=”article__header”> </header> <strong>Last February, news.Bitcoin.com first reported on the Venezuelan cryptocurrency the petro (PTR) launched by President Nicolas Maduro. Initially, many media reports assumed the digital currency might be phony or nonexistent. However, recent data from a few exchanges and from Venezuelans trading the asset on social media suggests the nation-state issued cryptocurrency is …

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Venezuelan Government Launches Cryptocurrency Remittance Service

<header class=”article__header”> </header> <strong>The government of Venezuela has begun offering a cryptocurrency remittance service. Remittances can be sent using two types of cryptocurrency. </strong><strong>The service was launched by the Superintendency of Cryptoassets and Related Activities, the country’s main crypto regulator, which has also set a monthly limit and a commission per transaction.</strong> Also read: SEC …

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Maduro’s Petro Becomes More Accessible, but Scrutinized by Venezuelans

<strong>For a while now people were skeptical about the Petro network and questioned whether or not it even existed. Many Venezuelan citizens explained over the last few months that they hadn’t seen the new asset being used in the wild. However, recent reports detail that there are a few new methods available for residents who …

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Venezuela’s BTC Trading Volumes Hit Record Highs as Crypto Regulations Commence

<header class=”article__header”> </header> <strong>As Venezuela begins regulating cryptocurrency, BTC trading volumes in the country hit record highs on several exchanges. Amid fast-growing crypto adoption, peer-to-peer trading platforms such as Localbitcoins and Paxful have reported significant increases in the number of BTC traded in Venezuela.</strong> Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive …

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Venezuela Starts Regulating Crypto Remittances

<strong>The Venezuelan government has begun regulating cryptocurrency remittances. The regulator has set a m</strong><strong>onthly limit and will be collecting commissions of up to 15 percent of the transaction amount. Additionally, new details of its comprehensive registry of crypto service providers have been announced.</strong> Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations …

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