It was only last week, The Venezuelan Government told that it will be recruiting its citizens to mine cryptocurrencies via cryptocurrency mining farms. Taking progressive steps forward, now Venezuelans will be able to buy houses and other property with their new national cryptocurrency, Petro.
President Maduro announced that it would be in April when real estate deals in Petro will be authorized. In addition, the government will a finance the construction of 230,000 new homes by using some of the $735 million collected from the pre-sale of the oil-backed crypto.
From now own, all citizens and legal entities in Venezuela are free to buy Petro through its website and soon the action of spending them would also be brought under legal terms. Maduro told, that the sale of real estate in the oil-backed crypto will be allowed from April 20.
The Venezuelan president also told the concerned authorities will create four special and exclusive economic zones to stimulate the circulation of the Petro. They will be located in
Tallking of the Petro pre-sale, Maduro announced that more than 200,000 orders from 133 countries have been placed during the 30 days of the petro pre-sale. He told local TV the total of the orders amounts to $5.25 billion USD. The president also said petros can now be purchased with fiat currencies like Russian rubles, Chinese yuan, Turkish lira and Euro, as well as with cryptocurrencies like bitcoin, ethereum and NEM.
Nicolás Maduro reiterated his rejection of the new sanctions imposed by the White House US President Donald Trump recently signed an executive order banning American citizens and legal entities from any transactions with Venezuelan cryptocurrencies. “Venezuela repudiates the measures against the petro.” Maduro said adding that they were intended to harm the country’s economy.
Venezuela is to host another global blockchain and cryptocurrency technology event to be held mid-April in Caracas.
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