16 Cryptocurrency Exchanges Get Approval to Launch in Venezuela, List Petro

Some analysts argue the vast majority ‎of frenzy ‎surrounding PTR is either a scam or far too ambitious for ‎‎its

Venezuelan President Nicolas Maduro has reportedly approved the ‎registration of 16 cryptocurrency exchanges in the country, months after ‎introducing regulations for ‎the emerging space.‎

According to local publication Correo del Orinoco, the authorities granted ‎approval to for the exchanges to list Venezuela’s newly released ‎cryptocurrency, the petro.‎

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Just this weekend, Venezuelan authorities shut down two cryptocurrency exchanges, ordering them to suspend operations as part of a crackdown against the growing bolivar-to-bitcoin market. On the same day, Venezuela’s Prosecutor General seized 1,382 bank accounts with balances exceeding $10.6 million.

The daily newspaper ‎cites Maduro who was speaking at an energy ‎conference during the weekend. Although he hopes that these exchanges will start listing Petro soon, none of them did confirm the inclusion of the Venezuelan government backed cryptocurrency.

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The decision also comes ‎during a rapid increase in the usage of ‎cryptocurrencies. There seems to be ‎ever-increasing excitement about the ‎cryptocurrency in Venezuela amid growing ‎economic chaos, and the highest ‎inflation rate in the world.‎

Recent data from VeneBloc‏ ‏pointed out that ‎Venezuelans’ Bitcoin trading volume has ‎jumped to the equivalent of $1.009 ‎million in bolivars on April 17.‎

Correo del Orinoco revealed the names of the newly-approved ‎exchanges, which mostly have international roots and are expanding operations ‎locally in the country.‎ The following platforms have been given the green light for a Venezuelan launch.

  • Criptoexchainge
    • Criptocapital
    • Asesoría Financiaera CA
    • Italcambio
    • Amberes Coin
    • Cave Blockchainge
    • Valoratta Casa de Bolsa
    • Coinsecure.ve
    • Critiaechainge
    • Criptolago
    • Criptoventraige CA
    • Criptoactivo Menets CA
    • Criptoactivo Bancar CA
    • Criptomundo Casa de Intercambio CA
    • Inversiones Financieras 1444 CA
    • Criptoactivo Criptoes

President Nicolas Maduro is also claiming that the pre-sale of Petro has raked in $3 ‎billion and a record number of verified purchases. Maduro expressed that the money that has ‎been raised during the pre-sale, will go toward the country’s economy and current financial ‎crisis.‎

Maduro hopes the Petro ‎will help ‎the country make financial transactions and get around Western sanctions. However, some analysts argue the vast majority ‎of the frenzy ‎surrounding PTR is either a scam or far too ambitious for ‎‎its own good.‎

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