Oil companies in Venezuela are now required to commit part of the transaction of purchase and sale with the use of a new national currency El Petro, said the President of Venezuela, Nicolas Maduro (Nicolas Maduro).
«Today company PDVSA, Pequiven and CVG should carry out transactions of purchase and sale through Petro», — quotes the President of the Radio National De Venezuela.
Nicolas Maduro gave the order to accept the cryptocurrency as payment for visa fees of the embassies of Venezuela around the world. In addition, the cryptocurrency is allowed to pay for fuel for aircraft of the National Association of carriers services hotels and other tourist facilities in the country.
The issue of cryptocurrencies was scheduled in January of the current year. Venezuela officially began selling Petro on 20 February, thus becoming the first country that issued a national cryptocurrency. Maduro has personally participated in the opening ceremony of the sales.
According to the results of the first day, the amount of pre-sales cryptocurrencies totaled $735 million.
The unit cost of Petro is equal to the price of a barrel of Venezuelan oil. Today it is$ 60 and will depend on the market value of the raw materials.
The country’s President Nicolas Maduro (Nicolas Maduro) is full of optimism, and even allows himself some allusions to the American dollar: «Today we are witnessing the birth of cryptocurrency, able to compete with Superman,» said the President.
Investors can purchase El Petro on March 19. In the framework of pre-placement -planned sale of 38.4 million tokens. Then followed the main phase of the ICO, which implemented 44 million Petro. The total volume of planned issue amount 100 million of Petro, of which 17.6 million tokens will remain under the control of the state reserve, said the Agency «Interfax». The government is confident that its own cryptocurrency will attract financial flows from abroad with great success.
Venezuela’s Parliament under the control of the opposition, announced the national currency is illegal. After all, he, by law, is required to approve any government loans Venezuela.
It should be noted that Venezuela over a long period is in a dire economic situation due to the imposition of U.S. economic sanctions for the persecution of the opposition. In an effort to circumvent these restrictions, the President made the decision, in which Venezuela became the first country in the world issuing their own cryptocurrency.
Meanwhile, the Minister of economy and Finance of Venezuela Simon Sickle working in Moscow for consultations on a national cryptocurrency, reported in the Embassy of Venezuela in Moscow.
In addition, today there is yet unconfirmed information about the issue of Venezuela token’oro with the provision of the gold reserve of the country.