The U.S. Department of the Treasury has sanctioned a Moscow-based bank over its role in financing Venezuela’s controversial petro token.
Cryptocurrency enthusiasts love to talk about Venezuelan users as an example of bitcoin's subversive potential – but the reality is more complex.
Venezuela has reportedly begun automatically converting residents' pensions into its controversial cryptocurrency.
Venezuela's President Maduro has said the nation will sidestep the dollar and use its controversial petro token for oil sales next year.
Venezuela is hoping the world's oil markets will start using its controversial national cryptocurrency, the petro.
Venezuelans must now pay for passports with the country's controversial petro token, according to a report.
A bipartisan group of U.S. senators is pushing for tighter sanctions against Venezuela's state-backed cryptocurrency, known as the petro.
Venezuela's president is ordering the use of the petro in international trade, despite doubts the token will be widely accepted.
The petro cryptocurrency may be one of the most ill-conceived blockchain projects. But it just might speak to exactly why the tech is gravely needed.
Venezuelan banks have been ordered to use the petro, the Maduro government-launched cryptocurrency, as a unit of account.