Internal sources of the Central Bank of Venezuela and the Ministry of Finance reviewed and confirmed a local newspaper this December 3 on the use of Bitcoin that the Nicolás Maduro Administration is making to pay companies in countries such as Turkey and Iran.
As mentioned by the sources, the Maduro Administration has been using the “Anti-Blockade Law” as the legal basis for these transactions, which as previously mentioned in Cointelegraph, is a legal body that contemplated the use of “all cryptocurrencies” to evade the sanctions that the United States has imposed against Maduro himself, his cabinet and various state companies.
On the other hand, a source from the Ministry of Finance also confirmed to the local media that The Nicolás Maduro Administration has been “thinking” about Bitcoin mining as an alternative source of income given the need that is tangible both in the dome of power and in the day-to-day life of Venezuelans.
In fact, beyond planning, the Venezuelan Army itself started cryptocurrency mining operations, as we mentioned previously in Cointelegraph, to guarantee that this military arm obtains “unblockable income”, as they came to mention at the time.
Use of cryptocurrencies to evade sanctions
This would not be the first time that the Nicolás Maduro Administration would be evaluating the use of cryptocurrencies to evade the sanctions that have been established against him. We previously reported in Cointelegraph that sources from the Central Bank of Venezuela confirmed that the entity was considering using Bitcoin and Ether as part of its international reserves., as well as using them to pay the obligations of state companies to their foreign clients.
On the other hand, different people close to the Petro project, the state digital currency issued by the Maduro Administration, They confirmed that the currency had been used for payments for commercial activities between allied countries.
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