Venezuela may be turning to Bitcoin to get around sanctions

From technologyreview.com

Venezuela’s state-owned oil company Petroleos de Venezuela SA (PDVSA) wants to send Bitcoin to the nation’s central bank, which itself is running tests to figure out if it can hold cryptocurrency in its reserves, according to a new report from Bloomberg. Hold on. Why would it do that? US sanctions have left Venezuela isolated from the global financial system. That’s led President Nicolas Maduro’s regime to look for new ways to move money around the world. For example, last year it tried (and failed) to launch the world’s first sovereign cryptocurrency, the petro. Recently it was reported that Maduro’s ... (full story)