RATE Group | Maduro Says Venezuela to Activate Crypto Payment Method ‘Soon’
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Maduro Says Venezuela to Activate Crypto Payment Method ‘Soon’

27 Oct Maduro Says Venezuela to Activate Crypto Payment Method ‘Soon’

Posted at 09:43h in Cryptocurrency News by

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Nicolas Maduro

Nicolas Maduro

Photographer: Carlos Becerra/Bloomberg

Photographer: Carlos Becerra/Bloomberg

Venezuela’s government is using cryptocurrencies as a “method for free national and international payments,” President Nicolas Maduro said in a televised press conference.

“The finance minister and Venezuela’s central bank have new instruments which we will activate very soon so that everyone can do banking transactions, as well as national and international payments through the central bank’s accounts,” Maduro said Monday. “Venezuela is working within the cryptocurrency world.”

President Nicolas Maduro Holds Press Conference

Nicolas Maduro speaks in Caracas on Sept. 30.

Photographer: Carolina Cabral Fernandez/Bloomberg

Venezuela’s central bank is running internal tests to determine whether it can hold cryptocurrencies in its reserves, Bloomberg reported last week. The efforts come at the request of state-run…

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