Coinatory

On November 2, the Supreme Court of Venezuela recognized Petro cryptocurrency (PTR) as legal tender — the court’s ruling states that the government “must promote the use of cryptocurrency as a means of payment and act as guarantor of such use.” The news is reported by Ethereum World News. Venezuela intends to become the first crypto state in Latin America. After several delays, the authorities announced the launch of Petro, a state-run cryptocurrency designed to help solve economic problems caused by rising inflation. The government planned to launch Petro in March 2018, however, despite the official announcement made by President Maduro, the launch did not take place. In March, US President Donald Trump signed a decree prohibiting indi ... Read more about " The Supreme Court of Venezuela recognized Petro cryptocurrency as legal tender " on coinatory.com

Venezuelan authorities have called the new launch date of public sales of cryptocurrency Petro. They will begin on October 29, not November 5, as previously reported. As explained by the representative of the economic block of the government Tareck El Aissami, citizens and companies interested in buying Petro coins will be able to do this via the website www.petro.gob.ve or the headquarters of the main department of the project, reports the local TV channel VTV. The official noted that the authorities are ready to listen to the wishes ... Read more about " Petro sale to start a week earlier, in two days " on coinatory.com

El Petro To start with, let"s make it clear, what Petro is: The Petro is the first cryptocurrency ever backed by a State, according to the official website. The first. Ever! And this is so controversial and groundbreaking that is totally worth knowing about. Venezuela is the country that had it"s currency lose 99,99% of value the past 6 years. Inflation is reaching unbelievable highs and the economy is in terrible condition. El Perto is supposed to fix economic problems. This cryptocurrency is supposed to be used as means of payment inside ... Read more about " Petro cryptocurrency. Opinion. Long read. " on coinatory.com

Nicolas Maduro, president of Venezuela announced the launch of the national cryptocurrency Petro, which will be used as a means of payment in international payments. The brief summary of his speech. Residents of the country will be given the opportunity to register on a special portal to get a crypto-wallet, and after that, they will have access to El Petro. From November 5 this year, the cryptocurrency will be available for purchase in exchange for souvenir bolivars - this is all the money that is released after the denomination. The ... Read more about " Petro: public sale date revealed " on coinatory.com

Venezuela Declines Currency and simultaneously decides to work with the cryptocurrency "Petro". Venezuela is issuing a new currency that cuts face value by 100,000 times. At the same time, the state-run currency will be linked to the country`s oil-based encryption currency Petro. Venezuelan President Nicolas Maduro announced on television and Twitter the creation of "redenomination" and the linkage between "Bolibar" and "Petro". According to the International Monetary Fund(IMF), Venezuela"s inflation is expected to reach one million ... Read more about " Venezuela Has Declined Currency and Conjugated with Cryptocurrency " on coinatory.com

The Iranian state press reported that the Central Bank will soon launch a sovereign cryptocurrency, which is 100% premined and expects the "command" of President Hassan Ruhani. Explanations on the use and rules for the exchange of state tokens will be explained by the country"s regulator as early as the beginning of September. The sovereign cryptocurrency will help Iran avoid US sanctions restricting the sale of oil, so experts draw analogies with Venezuela"s option. The Bolivarian Republic issued El Petro, radically replacing local ... Read more about " Iran is 100% ready to launch its own cryptocurrency " on coinatory.com

Venezuelan economic crisis touched Justin Sun, co-founder of Tron (TRX). He said that Petro, the country"s new currency, should have been associated with Tron, not with Ethereum, as reported by bcfocus.com Obviously, Justin Sun is very responsible for the promotion of the Tron cryptocurrency, as evidenced by the post on Twitter, where he protested to President Nicolas Maduro. He said that if Petro should be used, it should be tied to the Tron, not to the Ethereum. The post of Justin Sun appeared after the tweet Maduro, who announced the ... Read more about " Justin Sun calls on the Venezuelan president to tie Petro to Tron " on coinatory.com