Venezuela has announced how the Petro, Venezuela’s national cryptocurrency, will work. The details include how it will be issued, controlled, backed and how the developer team will be conformed. Venezuela is the country with the highest inflation in the world and cryptocurrencies have been spreading there.
In the past, we have written in CoinStaker about the friendliest countries towards Bitcoin on earth. Every single day, we have different news about regulations, markets and bans to the different cryptocurrencies. That’s why we have decided to make an update about what has happened this year.
Nicolás Maduro, President of Venezuela, has decided to announce the creation of its own virtual currency named ‘Petro’. During a speech transmitted on the national TV Channel VTV, the president has communicated the information. The ‘Petro’ will be the first virtual currency issued by any country in the American continent.
Belarus, known as Europe’s last dictatorship, will legalize cryptocurrencies, ICOs and mining in the country. The President, Alexander Lukashenko, is expected to sign a decree in order to legalize cryptocurrencies. Initial Coin Offering tokens, cryptocurrencies and mining will be accepted by law in the country.
The Tatarstan prosecutor’s office warned businesses about the violations that involve the installation of cryptocurrency ATMs. According to the webpage of the procuracy of the Republic of Tatarstan the legal status of cryptocurrency in the Russian Federation is not defined.
Japan is known worldwide as one of the Bitcoin-friendly countries. It has not taken hard measures against ICOs or Bitcoin itself or other cryptocurrencies. Now, the Financial Services Agency published a document clarifying the policies towards ICOs and cryptocurrencies in general.