Venezuela is reportedly launching a youth bank to be funded by the state's controversial cryptocurrency, the petro.
The creator of zcash has partnered with a startup called AirTM to help Venezuelans turn their inflated local currency into U.S. dollars, undetected.
A Russian Finance Ministry official has stated that Venezuela will not pay off its $3.5 billion debt using the petro.
Crypto enthusiasts around the world should send a strong signal to President Maduro that blockchain technology will not be used to support corruption.
A Russian official has called reports that the country helped Venezuela launch its controversial petro cryptocurrency "fake news."
Time Magazine reported Tuesday that the Russian government helped Venezuela develop the petro cryptocurrency with the support of Vladimir Putin.
A politician from Venezuela's ruling party has denounced U.S. sanctions against the petro, as the sale of the token opens to the public.
A report Monday indicated that US President Trump might sanction Venezuela and its petro token.
Florida senator Bill Nelson has denounced Venezuela's petro token and asked how the U.S. Treasury plans to enforce sanctions.
The Brookings Institute warns that the petro will undermine both international economic sanctions and truly decentralized cryptocurrencies.