Venezuela to launch cryptocurrency as cash crisis continues
New cryptocurrency will be backed by Venezuelan oil reserves and other raw materials
The president of Venezuela, Nicolás Maduro, has announced his government will be imminently launching a cryptocurrency, as a cash crisis continues to cripple the South American nation.
“I’ve studied this issue in depth, and I want to announce that Venezuela will implement a new cryptocurrency system backed by the oil reserves,” he said in a televised statement on December 3.
According to the government, Venezuela currently has more than 300 million barrels of oil in reserve. However, Maduro
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com