Never miss a story

Get subscribed to our newsletter


×
Venezuela to provide cryptocurrencies to its Patria's remittance platform. Pixabay

By Extreme

Venezuela has announced that it will include cryptocurrencies such as Bitcoin and Litecoin wallets to its Patria’s Cryptocurrency Remittance Platform. The government authority has further updated that this step will allow the Venezuelan citizens to receive remittances in cryptocurrency form officially. Although several Venezuelan citizens are already into Bitcoin usage and are using this cryptocurrency to make cross border payments, this new update from the government will give these transactions a formal status.


Venezuela’s next step in embracing cryptocurrencies: Addition of Bitcoin-Petro Trading Pairs

Venezuela is already a leading cryptocurrency usage market in the world. The country is third in the list of highest cryptocurrency usage in the world. And the government is keen on pushing this trend and is making continuous efforts to increase and regulate the usage of cryptocurrencies. And this latest announcement is a part of these efforts.

The formal announcement of including Bitcoin and Litecoin wallets in the National Remittances Platform came through a Patria blog post. This announcement is a part of the Venezuelan government’s several amendments regarding crypto policies to counter the effects of US sanctions.

Follow NewsGram on Instagram to keep yourself updated.
The Venezuelan government is already on the radar of the US government. The US government has continuously accused the Venezuelan government of using Bitcoin to evade sanctions.

But even then, it seems that Venezuela is too keen on adopting the top crypto into their formal financial transactions. And the recent announcement of formal recognition and endorsement of cryptocurrency mining is a reflection of it.


The country is third in the list of highest cryptocurrency usage in the world. Pixabay

The update published on 28th October discusses the inclusion of petro [and] Bitcoin and petro [and] Litecoin pairs into a structured exchange system. But the blog doesn’t give further details about when this inclusion is planned to take place. This update makes it clear that the government is still hopeful of the revival of its ‘Petro tokens, ‘ which in the beginning failed to create interest.

Bitcoin trading surges in Venezuela and across the world.

However, cryptocurrencies continue to attract widespread interest. The usage of cryptocurrencies in transactions has increased rapidly, not only in Venezuela but also across the world. With several trading platforms opening up, making Bitcoin transactions has become more comfortable. And trading apps such as Bitcoin evolution App have come up with seamless transaction procedures and offer critical updates that help traders make wise trading decisions.

Want to read more in Hindi? Checkout: भारत में क्रॉस ब्रीडिंग से विकसित हुए थे अजीब आकार के जानवर

Thus the ease of transactions and the ever-increasing importance of cryptocurrencies have fueled Bitcoin trading’s surge across the world. For Venezuelan citizens, Bitcoin trading is even more lucrative as they are badly hit by hyperinflation.

Government charges commissions and fees for exchange and remittances.

The government’s announcement also states that it is planning to have ‘commissions and fees for exchange and remittances.’

The blog talks about this in detail by stating that the government will implement a service commission for all operations carried out in the Petro, Bitcoin, and Litecoin wallets.

ALSO READ: Guidelines for Travelling in Train During COVID

Introduction of all the updates in phases

The blog doesn’t give a formal date for rolling out all the updates mentioned above, but it clarifies that these functions will be introduced in phases.

It states that in the initial dates of the updates, ‘some of these functionalities may not be available and therefore may not close the circuit for users who, in advance and under their full responsibility, decide to test these updates.’

The blog explains that The Patria Platform will gradually include all these and other services as it will need several days of updating and monitoring because of their extension.


Popular

Unsplash

Feminism itself is nothing but a simple movement that pursues equal rights for women (including transwomen) and against misogyny both external and internal.

"In India, to be born as a man is a crime, to question a woman is an atrocious crime, and this all because of those women who keep suppressing men in the name of feminism."

Feminism, a worldwide movement that started to establish, define and defend equal rights for women in all sections- economically, politically, and socially. India, being a patriarchal society gives a gender advantage to the men in the society thus, Indian feminists sought to fight against the culture-specific issue for women in India. Feminism itself is nothing but a simple movement that pursues equal rights for women (including transwomen) and against misogyny both external and internal. It states nowhere that women should get more wages than men, that women deserve more respect than men, that's pseudo-feminism.

Keep Reading Show less
wikimedia commons

Yakshi statue by Kanayi Kunjiraman at Malampuzha garden, Kerala

Kerala is a land of many good things. It has an abundance of nature, culture, art, and food. It is also a place of legend and myth, and is known for its popular folklore, the legend of Yakshi. This is not a popular tale outside the state, but it is common knowledge for travellers, especially those who fare through forests at night.

The legend of the yakshi is believed to be India's equivalent of the Romanian Dracula, except of course, the Yakshi is a female. Many Malayalis believe that the Yakshi wears a white saree and had long hair. She has a particular fragrance, which is believed to be the fragrance of the Indian devil-tree flowers. She seduces travellers with her beauty, and kills them brutally.

Keep Reading Show less
Pinterest

Ancient India not only made mentions of homosexuality but accepted it as well.


The LGBTQ+ acronym stands for Lesbian, Gay, Bisexual, Transgender, Queer, and others. In India LGBTQ+ community also include a specific social group, part religious cult, and part caste: the Hijras. They are culturally defined either as "neither men nor women" or as men who become women by adopting women's dress and behavior. Section 377 of the India Penal code that criminalized all sexual acts "against the order of nature" i.e. engaging in oral sex or anal sex along with other homosexual activities were against the law, ripping homosexual people off of their basic human rights. Thus, the Indian Supreme Court ruled a portion of Section 377 unconstitutional on 6th September 2018.

Keep reading... Show less