Bitcoin Forum

Venezuela has certified 16 crypto exchanges, which Nicolas Maduro, the president of Venezuela hopes will start listing the country's new currency.

He also claims that Petro has raised 3,3 billion dollars in the pre-sale, which, if true, is truly astonishing.

What are your thoughts on this? Is Petro a great move by Venezuela, to circumvent the US sanctions? Will crypto exchanges accept Petro? Share us your thoughts.

Where is this coin? Any information about it? I'm not gonna believe they raised $3.3B unless they share some evidence. My thoughts on exchanges are that US will forbid US exchanges to list it and it might go on other exchanges, but $3.3B, that is a lot of $$$.

That number is probably inflated, they are trying to make it seem as if they got a huge success with their coin but I really doubt that, and even if those numbers were correct if you think about it those numbers are very low for a coin backed by a government, even if the Venezuelan government is not as big as other governments that figure is very low, right now there are 14 coins with a larger market cap than that coin they are promoting.

Venezuela is part of OPEC (knows as cartel of oil) , so i am suprised how they allowed venezuela to do all these things .
also US sanctions another issue for petro coin , USA exchanges listing that coin mean invited problems to them .
that claim of $ 3b fund collection have no evidence to prove it right .

I am really wondering where is source behind this? I was actually expecting this coin be success but is it really going to be listed that many exchanges? If it is trueits HUGE success man. It may really help venezuela economy.

I would like to know what are the certified crypto exchanges,
can you show links to articles or news?

I am always happy when government are working for Cryptocurrency. This is the major ways we can actually see wide adoption. The exchange is also a channel to announce coins into the market and that means petro is going to do well in future. If Venezuela adopt Cryptocurrency into they economy it will revive they economy and dollars infect on them.

Here's the link to the article: https://news.bitcoin.com/venezuela-certifies-cryptocurrency-exchanges/
Looks like a bunch of homegrown exchanges. I thought they had partnered with some big exchanges, but there's nothing here. Whole thing is beginning to feel scammy

I see this from your point of view aswell.

The more widespread process of adopting cryptocurrencies is highly dependant on the support it gets from estabilished systems, such as governments.
In my opinion, if a coin will get the support of the local government, and a commonly used payment system will be created, are the things that can really start the usage of a cryptocurrency as we wish to see.
I feel US exchange bans will not hit Petro hard, as there are other exchanges aswell, in defferent countries. If anything else, decentralised exchanges might be a solution.

Also, I also feel Maduro has exaggerated when he mentioned the 3,3 billion number, but


Of course, here you go: https://news.bitcoin.com/venezuela-certifies-cryptocurrency-exchanges/
Note that: he hopes the exchanges they prefer, will start listing Petro.

If they can use it to successfully circumvent international trade bans then I can see a lot of other countries following them. One potential candidate is Nigeria which also has a lot of oil and is a badly managed country

It will be very interesting to watch this experiment. I hope everything goes well.