Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Venezuelan Superintendent of Cryptoactives Joselit RamĂrez says a Petro remittances platform is live and operational, as well as secure and easy to use.
National Superintendent of Cryptoactives Joselit RamĂrez has announced that crypto remittance platform Patria Remesa is live and functioning.
Radio announcement about the platform
The Bolivarian Government of Venezuela reported the news on Aug. 27. According to the report, RamĂrez said that Patria Remesa was ready for use on a radio show that he hosts on Radio Nacional de Venezuela. Additionally, RamĂrez highlighted his confidence in the platform’s safety, as well as how the Venezuelan cryptocurrency El Petro (PTR) allegedly hedges against economic depreciation.
A brief overview of the Petro
Regarding the Petro itself, RamĂrez explained:
"The Petro was a plan designed by the President of the Republic, Nicolás Maduro, to counter the attacks of imperialism and heal the wounds of war.”
As previously reported by Cointelegraph, President Maduro created the Petro in order to dodge economic sanctions imposed on Venezuela by the United States and other countries. Maduro said that the Petro would be backed by the country’s various assets, including oil, gasoline, gold and diamonds.
However, the launch of the Petro has been plagued by a number of issues, including Parliamentary Deputy Jorge Millan’s allegations that the token is a type of fraud, as well as U.S. President Donald Trump’s ban on purchasing it in the U.S.Â
Given the Venezuelan government’s history of not delivering on promises related to the Petro, Cointelegraph advises readers to approach RamĂrez’s announcement with skepticism.Â
U.S. Treasury Secretary Steven Mnuchin, who has recently spoken out against Bitcoin (BTC) and other cryptocurrencies, delivered the following remarks at a G-20 meeting in Buenos Aires:
“President Maduro decimated the Venezuelan economy and spurred a humanitarian crisis. Instead of correcting course to avoid further catastrophe, the Maduro regime is attempting to circumvent sanctions through the Petro digital currency — a ploy that Venezuela’s democratically-elected National Assembly has denounced and Treasury has cautioned U.S. persons to avoid.”
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.