Venezuelan President: The country needs to return to the path of cryptocurrency

ChainCatcher news, according to Bitcoin.com, Venezuelan President Nicolas Maduro discussed the future development of the national cryptocurrency system after the so-called PDVSA-Crypto plan. This plan led to a loss of $20 billion in unaccounted oil sales, which were paid for with cryptocurrency. Maduro stated that the country needs to get back on track with cryptocurrencies but did not mention whether it would restart its national cryptocurrency asset - Petro.

Venezuela may take a friendly stance towards cryptocurrencies again in the future. The latest statement made by President Maduro at a meeting with banking industry representatives suggests that the country will reconsider the role of cryptocurrencies there, after having taken several measures affecting trading platforms and mining plans.