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OTC Groups and State-Sanctioned Exchanges Start Trading Venezuela’s Petro

Last February, news.Bitcoin.com first reported on the Venezuelan cryptocurrency the petro (PTR) launched by President Nicolas Maduro. Initially, many media reports assumed the digital currency might be phony or nonexistent. However, recent data from a few exchanges and from Venezuelans trading the asset on social media suggests the nation-state

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Darwinos Burger Joint Hosts Colombia’s Second Point of Sale and Crypto ATM

Three months, ago news.Bitcoin.com reported on Panda Exchange launching a hybrid point-of-sale (PoS) and cryptocurrency ATM in Bogotá, Colombia. Since then, the Panda team has also helped Athena Bitcoin install a crypto ATM in Cúcuta, Colombia to serve as a crypto gateway for Venezuelans. On April 17, Panda announced

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Russian Banks Join Chinese Swift – Is the Dollar Era Under Threat?

As a Saudi oil minister once remarked, the Stone Age didn’t end because we ran out of stones. It seems it’s neither the deficit of a tool nor its deficiencies that make it obsolete, but rather the invention of new tools that do the job better. With increasing competition,

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Bitcoin Volumes in Venezuela Plummet During Nationwide Blackout

Venezuelans are having a difficult time as the country’s power grid shut off on March 7, leaving the majority of Venezuelan states with no electricity for well over a week. According to reports on March 14, electricity has been restored throughout most states within the country. However, during the

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US Sanctions Moscow’s Evrofinance Bank Over Involvement With Petro

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on Moscow-based Evrofinance Mosnarbank. The Russian bank was allegedly involved in Venezuela’s attempts to bypass financial sanctions using the petro. Also Read: In the Daily: Exchange to List STOs, Crypto Tax Tool for Accountants, Coinbase

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P2P Markets: Russian Localbitcoins Trade Outpaces Venezuela

During the week of March 2, roughly 14,365 BTC changed hands via peer-to-peer (P2P) exchange Localbitcoins, equating to approximately $51.51 million worth of trade. Of that, 3,593 was BTC traded via the Russian markets, 83 percent more volume than was produced by Localbitcoins’ second-largest market, Venezuela. Also Read: Turkish Real

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Venezuelan Government Launches Cryptocurrency Remittance Service

The government of Venezuela has begun offering a cryptocurrency remittance service. Remittances can be sent using two types of cryptocurrency. The service was launched by the Superintendency of Cryptoassets and Related Activities, the country’s main crypto regulator, which has also set a monthly limit and a commission per transaction. Also

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P2P Markets Report: Iranian Localbitcoins Volume Gains 190% in a Week

The peer-to-peer (P2P) markets have seen a dramatic increase in Iranian and Indonesian trade activity, with both markets posting triple-digit volume gains in recent weeks. Localbitcoins volume has also surged in select Latin American markets this past week, with the Dominican Republic, Colombia, and Venezuela posting some of their

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Maduro’s Petro Becomes More Accessible, but Scrutinized by Venezuelans

For a while now people were skeptical about the Petro network and questioned whether or not it even existed. Many Venezuelan citizens explained over the last few months that they hadn’t seen the new asset being used in the wild. However, recent reports detail that there are a few

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Venezuelan Explains How Bitcoin Saves His Family

As the situation in Venezuela intensifies, a local bitcoin user details how he and his family use the cryptocurrency to survive the country’s ongoing crisis. Keeping all of his money in bitcoin, he only exchanges small amounts into the hyperinflating bolivar when necessary. Also read: SEC Chair Explains Key Upgrades

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