@timerland. Agreed. However, I reckon the government of Venezuela and others might only be tolerating it because they do not have the laws and the means to enforce regulations. The moment they do figure it out, let us hope adoption gas spread deep and wide and it would be too late for them hehehe.
For sure mate. They don't have enough power to be able to take away BTC, could you imagine if they tried to tax or even ban it? The people of Venezuela would go crazy.
If their economy ever recovers and they would be able to effectively use fiat for everything, I'd like to see what they'd do related to cryptocurrency. If the government is smart and willing to, they could become one of the most accepting countries for cryptocurrency, and turn their nation around with cryptocurrencies. We'd be able to see full adoption because most of the people there already use BTC anyway.
I really don't want to see them shoot BTC in the foot for their own Petro coin to do well, there's definitely room for both of the cryptocurrencies and a crypto-friendly Venezeual would be great to see.