Venezuela announces the use of cryptocurrencies in commercial exchange

Venezuelan President Nicolas Maduro announced that cryptocurrencies can be used in commercial exchange, in addition to the "Petro" coin.

The president said, "The Anti-Penal Law is considered an initial step to give new power to the use of cryptocurrencies and "Petro" in domestic and foreign trade, so that all cryptocurrencies in the world can be used, and this is an important project and is under development."

Maduro explained that they "suffered for five years from the most vicious attacks, which seek to affect the Venezuelan economy."

On Monday, September 21, the United States announced the imposition of a series of sanctions, especially targeting the Iranian Defense Ministry and Venezuelan President Nicolas Maduro, as part of the new framework of UN sanctions, calling on European countries to follow them.

In turn, the Venezuelan Foreign Ministry confirmed, earlier, that the United States of America cannot prevent Caracas from building relations with Iran, and that the new US sanctions on President Nicolas Maduro are a new aggression.

Washington does not recognize the legitimacy of Venezuelan President Nicolas Maduro, and suffers from a shortage of hydrocarbons despite the fact that it has huge oil reserves, due to the decline in production, in a crisis that has been increased by the outbreak of the "Covid-19" epidemic and its severe economic consequences.