Cuba Government is Studying Cryptocurrency to Avoid US Sanctions
Cuba might be the newest country Studying Cryptocurrency to Avoid US Sanctions
- Girish Vidhani
- Jul 03, 2019
- Nov 22, 2024
Cuba might be the newest country Studying Cryptocurrency to Avoid US Sanctions
The Supreme Court of Venezuela has accepted the Petro's status as a national currency, ordering a government entity to pay compensation in Petro.
Nicolás Maduro, the president of Venezuela said the plan would involve devaluing the bolivar from 285,000 per dollar to 6 million – a drop of 96 percent.
Last month, Venezuela offered India a discount on crude oil if the country pays them in Petro cryptocurrency. However, India has declined Venezuela’s offer.
Attempting to increase the adoption of their Petro cryptocurrency, Venezuela has offered 30% discount on crude oil to India if payments are made using Petro.
Venezuela’s state-created petrol-backed cryptocurrency, Petro, is all set to go on pre-sale starting tomorrow, the 20th of February.
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