Editor's Picks News

Venezuelan authorities forcibly transferred the payment of pensions at Petro

The government of Venezuela, against the background of a deep economic crisis, decided to forcibly integrate national cryptocurrency El Petro in the country’s economy. After linking of prices and wages to Petro authorities have moved to more aggressive practice and began to pay pensions in questionable cryptocurrency, without the consent of the pensioners.

Earlier, the pensioners, the Latin American countries received a pension to your Bank account in a national Fiat currency, bolivars, after which it could obtain cash in the nearest branch of the Bank. The latest charges came on the web purses citizens were automatically converted by the government at the Petro. Ie, at first retired enlisted bolivars, then the government removed them and converted into the cryptocurrency Petro. The decision was suddenly initiated by the government without any coordination with citizens.

Local English-language blog “Caracas Chronicles” notes that the recent quote of Petro in relation to the Bolivar unstable and just a few weeks increased from 9 to 15 thousand per unit. Such dynamics, together with the call for power to accumulate scriptactive to deal with the crisis, threaten the material well-being of the population.

In addition to the transfer of pensions at Petro, citizens are required to pay a passport only with the help of cryptocurrency. Earlier, the President of Venezuela, Nicolas Maduro said, the salaries of citizens will translate into the virtual currency.


Related posts

According to the Bank of Israel, Smart Contracts Should be Supervised

Joseph Alalade

Do Kwon Claims He’s Not On The Run, But Authorities Can’t Find Him

Jai Hamid

Bitcoin [BTC] Hits Major Hurdle at $7,800 And Could Face Significant Selling Pressure

Lorenzo Stroe