Mura says cryptomeda will play a role in the fight against sanctions against Venezuela

Cryptomeda received another mention in one of Maduro’s bombastic speeches.

Venezuelan President Nicolas Maduro says the country’s government is now looking at several cryptomoeda as a potential way to avoid sanctions.

On Sept. 29, Maduro presented a new bill that aims to help the country overcome the impact of US sanctions.

As part of the bill, Venezuela will study the possibility of using several cryptomoks in domestic and foreign trade. Maduro said the new anti-corruption bill involves private and state-owned cryptomeda initiatives, such as Venezuelan oil-related cryptomeda, Petro:

„The anti-sanctions bill is the first response […] to give new strength to the use of Petro and other cryptomoedas, domestic and global, in domestic and foreign trade, so that all the world’s cryptomoedas, both state and private, can be used. This is an important project that is under development“.

According to online news, the new bill is now being considered by Venezuela’s legislative body, the National Constituent Assembly.

The latest news apparently shows that Venezuela’s interest in Crypto Nation Pro review is not limited to the country’s national cryptomoeda, Petro, which has positioned itself as an important tool to escape US sanctions.

Maduro’s new claims come shortly after the Venezuelan government issued an official regulatory framework for mining cryptomorphs like Bitcoin (BTC). On September 23, Venezuela’s National Superintendency of Crypto Assets and Related Activities issued the first decree to regulate all cryptomore-mining activities, outlining specific requirements for miners, such as the obligation to enter the so-called ’national mining pool‘.

As the Cointelegraph reported earlier, Maduro did not use to support any cryptomoeda other than the state-owned Petro.

At the end of 2019, Maduro announced that the country’s retirees and pensioners would receive their Christmas bonuses in Petro. The Venezuelan government would have turned the retirees‘ monthly bonus into Petro by the end of 2018.

Officially launched in February 2018, Petro has become the world’s first „oil-cooked“ national cryptomeda. The currency is supposed to attract foreign investment as well as avoid sanctions by the US government. However, the token is not available for purchase anywhere outside Venezuela.