Venezuela Bans Crypto Mining to Stabilize National Power Supply
#Venezuela halts #Bitcoinmining to ensure stable power and reduce blackouts, prioritising energy for citizens over crypto operations. #Bitcoin #Venezuela #Energy
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Venezuela Devalues Currency by 35% – Bitcoin is the Only Solution?
Currency has lost a third of its value against the USD this month. The Venezuelan government has been struggling to combat inflation. The move comes when Venezuela is facing a political crisis. On Monday, the Venezuelan currency was virtually 35 percent devalued to bring it in line with the black market dollar-to-bolivar exchange rate. The official exchange rate fell to 7.10 bolivars per U.S. dollar, 1.60 bolivars less than the parallel value. Asdrubal Oliveros, head of market research firm Ecoanalitica, explained there are two factors affecting the exchange rate: The first one has to do with the rise of public
Venezuela Approves 20% Tax on Bitcoin and Crypto Transactions
Venezuela applies 20% tax on Bitcoin and crypto transactions. Tax will apply to transactions on all foreign currencies. Only El Petro and the national currency are exempt from the tax. Following India’s decision to apply tax on crypto transactions, Venezuela comes to a similar decision. Specifically, the Venezuelan government has decided to apply a 20% tax on Bitcoin and crypto transactions. In response to this tweet from Watcher.Guru, many responded saying the 20% tax is too much. Still, this 20% tax is much less than India’s decision to tax 30% on crypto sales transactions. In detail, the Venezuelan government approved
