Please select To the mobile version | Continue to access the desktop computer version
Cyber Bitcoin
Edited by qqqpeter at 2019-12-16 14:04

Venezuelan President Nicolas Maduro said on Friday (13 Dec) that Venezuela ’s National Encryption and Related Activities Supervision Organization Sunacrip (Superintendence of Crypto-Assets and Related Activities) will be next week, airdrop 0.5 PTR (about 30 USD) to eligible citizens registered in the Petro App. According to local media, President Maduro said,


This is a bonus for Christmas. This first transaction will become a testing mechanism. Later, the issuance of bonds by the country can also be performed with the cryptocurrency. We can provide a debit card for oil, that is, establish a reliable currency system and Increase the availability of Venezuelan cryptocurrency.

Airdrop target

Pensioners, government officials, and retirees can get PTR bonuses for airdrops next week, and other citizens can get the airdrop bonuses as long as they register on the Petro App.

In addition to Venezuelan citizens, Maduro also approved the allocation of 100 million Venezuelan Bolivars (bolivars, and USD 1: 0.1) to pay the salaries of the mayor and governor of the country. An additional 500,000 petroleum coins were prepared to ensure the country's 335 cities operate smoothly and the costs of currency conversion are among others.

Get rid of economic war

On Sunacrip's official website, they wrote about petrol coins,

Becoming the first digital sovereign currency will be an important milestone in the history of the world economy. It is issued to the Bolivarian Republic of Venezuela and provides wealth and liquidity to support it This cryptocurrency.

The Venezuelan President Maduro is also full of confidence in petroleum coins, saying that the country's electronic payment system will help the country find exports that leave the economic war. Due to the economic sanctions imposed by the United States in the past, Venezuela's financial system is severely disconnected. Maduro mentioned that thousands of Venezuelan businessmen will join next year and that the country ’s digital currency system is “on the track to making the economy more stable”.

However, despite Venezuela's dedication to making petroleum coins a successful and effective digital sovereign currency, U.S. President Trump may not be happy to see this happen. In March of this year, U.S. President Trump has signed a new executive order banning American companies trade petroleum coins with citizens.

Despite this, Venezuela subsequently filed a complaint to the World Trade Organization, stating that "the United States has imposed certain mandatory trade restrictions on the Bolivarian Republic of Venezuela in the context of the United States' attempt to isolate Venezuela economically. The response was tough. According to Reuters, the United States believes that since Maduro's regime is not the legal government of Venezuela, Maduro's representatives cannot be legal representatives within the WTO organization. Therefore, neither agenda items or other requests will be legally submitted to the WTO's Dispute Settlement Body (DSB).

At present, the United States has a clear intention to reject petroleum coins. However, Venezuela also insists on promoting the development of petroleum coins in the country. From PetroAPP to airdrops, everyone wants to know whether petroleum coins will bring Venezuela to a more complete economic system or will the economy collapse again.

Use magic Report

All comments
    You have to log in before you can reply Login | register

    Points Rules

    Related Products
    • 86183871832049
    Quick Reply To Top Return to the list