Constituent National Assembly of Venezuela approved cryptocurrency bill
The Constituent National Assembly of Venezuela approved a bill on the regulation of cryptographic currencies as reported by Ministry of Communication and Information
The law was proposed by the president of the nation, Nicolás Maduro, consists of 64 articles and five transitory provisions. The bill validates the petro as a commercial exchange unit within the country and establishes that goods and services can be acquired with the digital currency backed by oil.
The National Constituent Assembly also confirmed amendments to the current law against money laundering. Under the new rules, cryptoexchanges in Venezuela are authorized to carry out exchange operations with petro.
According to the head of the special commission on cryptoframes Andrés Eloy Méndez, the new measures are being taken mainly to combat the financial and commercial blockade of the United States government.
Venezuela launched the petro for sale at the end of October. The cryptocurrency issued by the state can only be purchased on the official website or in public offices since the digital wallet has been suspended by Google.
L.Sáenz
Source: Cointelegraph
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