What Does Venezuelan President Nicolas Maduro Think About Crypto Currency?


What does Venezuelan President Nicolas Maduro think about crypto currency? Nicolas Maduro, the President of Venezuela, expressed his support for the adoption of new funds for Latin America during the last meeting of the Sao Paolo Forum. Maduro said it would be an important step towards building a common economic space, which would include cryptocurrency as an important element.

Nicolas Maduro supports a single currency project for Latin America

Nicolas Maduro, the President of Venezuela has expressed his support for the idea of ​​a single currency for all Latin American countries as a way to build a common economic space. Regarding his participation in the last meeting of the working group of the Sao Paolo Forum, a group of the center left, Maduro said: “There are those who propose the use of a single currency, let’s discuss it, it would be extraordinary.”

Maduro explained that the recent political changes facing Latam, and the victory of President Luis Inacio Lula Da Silva in Brazil, have led to this new system that seeks to isolate the region from the influence of foreign money.

About this new movement, he says: “We have to look inwards, towards our deep America, there has to be a change in our behavior, for our rulers to hear and understand us to agree on the construction of a common economic space.”

Other presidents and politicians in the region have also proposed the idea of ​​adopting a single currency in the region. This is one of Lula’s promises during his campaign, explaining that he will destroy the influence of the US dollar in the region. Roy Barradas, president of the Colombian Congress, also mentioned Lulas’ plans during the inauguration of President Petro.

Multi – currency cryptosystem

Maduro also made his own proposal outlining a multi-currency system that could be accepted in Latin America, similar to what Venezuela is currently doing. It also includes cryptocurrency as a key part of this new strategy.

With that, he explained: “We must agree on the construction of a monetary system that takes into account the existing currencies, the cryptocurrencies, nobody can see the monetary system of the 21st century without cryptocurrency.”

Venezuela was one of the first countries to issue its own cryptocurrency, the petro, in 2018, and is now one of the countries with the most legal framework for cryptocurrency and mining.

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