Venezuelan President Maduro orders national bank to accept the Petro

04 Jul, 2019
by David Borman
Venezuelan President Maduro orders national bank to accept the Petro

It is being reported by ST Market that Venezuelan President, Nicolas Maduro, has ordered Banco de Venezuela to begin accepting the Petro, the national cryptocurrency that has seen modest adoption.

It is reported that Maduro announced the development during a celebration for the 10 year anniversary of the adoption of Banco de Venezuela as the country's national bank. Shortly after the announcement, the Ministry of Finance tweeted out a statement supporting the notion. The tweet mentions "the express order to open Petro desks in all the branches of the Bank of Venezuela."

Maduro has been attemtping to push the Petro on the nation for a while now. So far it seems general adoption is slow, despite efforts to put a regulatory framework in place to help the nations cryptocurrency infrastructure grow.

It is still unclear what the fate of the Petro will be, but if the government keeps pushing it onto the public, it may eventually become the standard. In any event, stick right here with Chepicap for all Petro updates!

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