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Tagged: nicholas maduro

Venezuelan President Says Country will Fully Transition to a Digital Economy as Certain Banks Issue USD based Debit Cards

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Banks in Venezuela are reportedly issuing debit cards for US dollar-denominated accounts, according to a report from Reuters which cited sources familiar with the matter. There’s now a group of Venezuelan banking institutions that have been providing debit cards to customers who maintain accounts in… Read More

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Chainalysis Confirms Venezuelans are Increasingly Using Bitcoin and other Cryptos for Remittance Payments, as Bolivar is Useless

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Venezuela is experiencing one of the worst economic crises in history. The South American country’s national currency, the Bolivar, has become practically worthless due to extremely high levels of hyperinflation (about 10,000,000% during 2019). Venezuela’s residents are also suffering due to serious socioeconomic challenges, as… Read More

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US Department of Justice Alleges that President Nicolas Maduro and other Venezuelan Leaders Used Cryptocurrencies to Bypass Political and Economic Sanctions

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The US Department of Justice (DOJ) is alleging that several Venezuelan leaders and politicians, including President Nicolas Maduro, took advantage of their positions, financial systems, and virtual currencies to conceal and carry out criminal activity for more than two decades. An indictment released on March… Read More

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