Wednesday, 23 January 2019

Venezuela Issues Framework to Strengthen and Promote Petro

The Constituent National Assembly (ANC) in Venezuela is progressing on Thursday in the legal projects to strengthen and promote national and international cryptocurrency Petro.



The legislator of the plenipotentiary body for the business sector and member of the Commission of Diversified and Productive Economy, Gerson Hernandez, said that the legislative progress is focused on strengthening the Program for Recovery, Growth and Economic Prosperity promoted by the Executive.

He said that with the amendment by the ANC of the Anti-Money Laundering law, a legal framework was announced to promote investment in Venezuela, and in turn authorize that the house of exchange can carry out foreign exchange operations legally with the inclusion of the digital currency.

Hernandez told the press that the basic objective of the legislation is to give greater support and confidence to the business sectors to invest and carry out their transactions through cryptocurrency, in order to avoid international controls that seek to bloc Venezuela's economic and financial development.

'With this mechanism, all doors are open to export in the international market and also minimize imports,' the businessman said.

source: plenglish.com 
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