Tue, December 3

Binance Added to List of Venezuela Censorship Amid Political Unrest

One of the largest cryptocurrency exchanges, Binance was banned in Venezuela due to the presidential disputes. In the past few weeks, the nation has banned several prominent platforms including Elon Musk founded X. The Binance ban occurred on Friday, following which the anti-censorship organization, “VE sin Filtro” reported it on

August 12, 2024 2 mins read

Yearly Crypto Remittances to Venezuela Surges Over $460 Million

Cryptocurrency remittances to Venezuela have increased dramatically in the last year, reaching over $460 million. In general, the country’s remittances have increased as a result of the large number of migrants caused by the severe economic circumstances. Crypto adoption has been on the rise in Latin America and other regions

July 6, 2024 1 min read

Venezuela Accelerates Shift to Tether (USDT) Amidst Tightening US Sanctions

In response to the harsh U.S. sanctions, Venezuela’s state-run oil firm PDVSA has reportedly taken further steps to diversify its revenue streams away from traditional fiat currency and toward digital assets such as Tether (USDT). The United States Department of the Treasury requested last week that all PDVSA users and

April 23, 2024 2 mins read

Venezuela’s Petro (PTR) Faces Shutdown as it Struggles to Gain Traction

The Petro (PTR), the official cryptocurrency of Venezuela, will reportedly stop functioning on January 15th. The government established the currency in 2018 to avoid US sanctions, but it never gained any traction. According to reports, the government-run Petro currency website announced the closure, however the site was down recently. Reportedly

January 13, 2024 1 min read

Venezuela Suspends Operations of Crypto Exchanges and Mining

While the government deals with the multi-billion dollar corruption investigation, crypto miners and exchanges in Venezuela will stay closed. While investigating a big corruption scam that might have syphoned off $20 billion, Venezuelan officials allegedly encouraged local Bitcoin miners to temporarily suspend operations. It is suspected that members of President

April 23, 2023 1 min read

Venezuela Crypto Regulator Continues Crackdown Amid Reorganization

There seems to be nothing but negative news for the Venezuelan crypto sector. Especially since Superintendent of Cryptoassets Joselit Ramirez was arrested. And President Nicolas Maduro ordered a reorganization of the country’s crypto regulatory body. In a recent development, Venezuela’s National Superintendency of Cryptoassets “Sunacrip”—the country’s crypto regulator—ordered the shutdown

March 25, 2023 2 mins read