Venezuela Approves Decree on the Use of Cryptocurrencies

Also see: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies

What would you think of Venezuela approving the decree on the use of cryptocurrencies?
We’ve obtained 30 ambulances which we are delivering in La Guaira, Vargas nation, and we have achieved [that] through arrangements with companies that we have paid with Petro. Here’s the trick to the ambulance that Pariata Hospital may possess. It’s the first ambulance obtained in Petro — I give it to you personally.

The Venezuelan authorities under Maduro’s command was actively promoting the use of the Petro. On Friday the Superintendency of all Cryptocurrency explained the guidelines for utilizing the new currency to representatives of over 100 transport agencies in the country.
The decree will put into force after it is printed in the National Gazette, according to Cripto Noticias. It “includes 12 posts where the legal foundation for the launching of [the] Petro along with also the use of cryptoassets in the national land are defined, in the identical way in which the use   [of those assets] is ensured,” the information outlet detailed.

The ANC has declared the Petro prohibited and in violation of the country’s constitution. “The Adeco-bourgeois assembly took out a settlement to stop Venezuela from having the Petro,” President Maduro expressed following the decree has been passed, including that “the Petro belongs to the men and women.”
The Petro supposedly started its initial coin supplying (ICO) past month following a pre-sale, throughout which Maduro promises to have increased about $5 billion, but has yet to offer any evidence of doing this. He then declared last week “In the upcoming few days, I’ll take stock of the achievement of the 15 days of promoting El Petro.”

The goal of the decree is to allow the use and exchange of cryptoassets by legal and natural persons, resident or not, in the land to be able to improve the economic development of the country.

Sputnik News elaborated, “In accordance with this record approved by the Constituent Assembly, President Nicolás Maduro will have the power to control the issuance, organization, and functioning of their Petro,” adding this: