Will Other Governments Follow?
The Venezuelan government has been more progressive that most when it comes to the topic of cryptocurrencies than most. The South American nation has previously launched their own national cryptocurrency the Petro (PTR) in 2018. The Petro which started as an ICO seems to have gone the way of most ICOs and does not appear active.
Venezuela & Bitcoin
It appears that Venezuela's government has not lost interest in Bitcoin and cryptocurrencies, however. Earlier today an eagle-eyed Twitter user noticed that the Venezuelan government has began accepting Bitcoin as a payment method.
It appears that the Venezuelan Ministry of the Popular Power for Internal Relations, Justice and Peace has begun accepting Bitcoin as a payment method. Most credit card companies are barred from doing business in Venezuela. This is because the license issued by the US Department of the Treasury for Visa and Mastercard to work in Venezuela, expired earlier this year on the 20th of March 2020.
While Bitcoin is listed as a payment option for passport renewals, there is the possibility that Venezuela will begin accepting Bitcoin for other services. The state of Ohio briefly allowed the ability to pay taxes in Bitcoin but later closed the service citing low interest.
Hopefully more countries will follow this example and begin accepting Bitcoin and cryptocurrencies as a form of payment.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado