Cryptocurrency

08/10/18 11:53 UTC-4

Passport fee in Venezuela will be paid in Petro

Residents of Venezuela can now pay passport fees in Petro
Residents of Venezuela can now pay passport fees in Petro

Venezuelans can now use Petro's cryptocurrency to pay for passport fees. This was officially announced by the country's Vice President Delsy Rodriguez at the Friday conference on October 5.

The official launch of the legislative project is planned for November 2018. But as of October 8, duties for all applications for obtaining or renewing a passport will be paid to Petro. Fixed price: 2 Petro – getting a new passport, 1 Petro – expansion of an existing one. At the same time, the average wage in Venezuela is 4 times less than the cost of the raised passport fee.

“For citizens who are outside the country, until November 1, the cost of a passport will be $ 200 – for the new, and $ 100 – for renewing the old one,” Rodriguez told the Latin American newspaper El Universal.

Venezuela seeks to combat the side effects of rapid inflation and the country's economic failures, using cryptocurrency to bypass capital controls.

Along with the introduction of the passport fees, Rodriguez also announced the creation of a department of the Migration Police, allegedly designed "to preserve the safety of citizens and migration control."

Editor: Yuliya Soroka

See also: "Ripple has announced the commercial use of the XRP token"

#Petro #cryptocurrency #passportfee #Venezuela

Comments

Similar

07/05/19 06:00 UTC-4

Bitcoin rate is growing: BTC crossed the $6,000 barrier

On May 7, the first Bitcoin cryptocurrency increased by 4.29%. Now, the weighted average rate of digital gold is $5,929. At the same time, the "high" deals in today's trading session have already crossed the border of the psychological barrier of $6,000.

Cryptocurrency
Exchanges
Mining
ICO, ІРО, STO
Hypes, funds, fiat money
Other