Venezuelan President Nicolas Maduro has reportedly approved the registration of 16 cryptocurrency exchanges in the country, months after introducing regulations for the emerging space.
What implications can this step have on Venezuelan economy being the economy with highest inflation rate and simultaneously what does this mean to cryptocurrency world wide?
So basically they regulated the cryptocurrency simply because they wanted to trade their government backed coin, it is a good initiative by the government to promote their petro coin and it will have an implication in the world market because they are moving away from dollars and the monopoly to sell oil changes and in turn it might boost their economy.