A report by RunRun.es stated that Venezuela intends to increase its use of Bitcoin to pay for imports to bypass financial sanctions imposed by the United States. It has been reported that RunRun.es, which was founded by Venezuelan investigative journalist Nelson Bocaranda, cited anonymous sources from the country’s central bank who claim that “payments to companies from allied countries such as Iran and Turkey have been made using Bitcoin.” However, it is not clear what these

CryptoBuyer, a Bitcoin services startup based in South America, has launched the first Bitcoin node connected to the Blockstream satellite network within Venezuela. It has been reported that the launch of the node will keep the Bitcoin (BTC) blockchain updated for Venezuela users without being dependent on a local Internet connection. However, AnibalCripto, a crypto training course provider, deployed the node while CryptoBuyer provided financial and logistical support. Anibal

Venezuela‘s government (Administrative Service for Identification, Migration and Foreigners, known as SAIME), has planned to accept Bitcoin (BTC) as a new payment method for some passport applications, as it has been reported by a Reddit post on June 23. News of the update soon reached Twitter, with some Venezuelan users abroad confirming the information. However, BTCLovera, a Twitter user, wrote: “I have just verified it personally and it is totally true. #Venezuela, the imm

Panama-based cryptocurrency merchant-gateway startup Cryptobuyer announced a partnership with Venezuelan company Mega Soft, which processes payments for thousands of local businesses via its platform called “Merchant Server.” Over 20,000 shops and enterprises in Venezuela will reportedly start accepting crypto by June 1. This news comes as a part of an effort to drive crypto adoption in the hyperinflation-stricken country. Thanks to @Cointelegraph for the article about the #C

Nicolas Maduro, the President of Venezuela, announced that the Christmas bonus of the country’s retirees and pensioners will be paid to them in the national cryptocurrency Petro. On November 17, it has been reported by Venepress, the local news outlet, that this particular instance is not the first time that Venezuela pushes Petro into the wallets of pensioners so far. #EnDesarrollo Maduro anunció "aguinaldo" para los jubilados y pensionados de medio Petro (a precio de hoy se

Electricity crises have become an everyday problem for Venezuelans. It even inspired an open-source project the Locha Mesh initiative to enable private messages and payments without an internet connection. The project is developed by Venezuelan Randy Brito when he realized that crypto adoption was poor in the country due to poor internet infrastructure. Lack of Infrastructure and Low Crypto Adoption in Venezuela During the blackouts, people were using dollars not because they

The Central Bank of Venezuela is considering the possibilities to hold Bitcoin and Ether in its coffers (balance sheets). The source was provided by an anonymous entity who “reportedly have direct insights into the matter.” On Sept 26th, a Bloomberg article reported that Venezuela’s Central Bank (BCV) is taking a closer look at whether it can have the possibly hold cryptocurrencies such as Bitcoin and Ether. Possibilities of holding Bitcoin and Ether Petroleos de Venezuela SA