Constituent National Assembly of Venezuela has approved a bill on crypto regulation

The Constituent National Assembly of Venezuela has passed a bill on cryptocurrency regulation, according to the Ministry of Communication and Information.

The bill was proposed by President Maduro and establishes the Petro (PTR) as a legal tender for transactions. Anti-money laundering laws have also been passed, and cryptocurrency exchanges have been granted license to carry Forex operations utilizing the PTR.

The government has stated that the Petro will be instrumental in defeating the “financial and commercial blockade” established by the U.S government, although questions about the viability of the Petro remain.

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