The constitutional Assembly of Venezuela approved the proposed President Nicolas Maduro (Nicolas Maduro) draft law on the regulation of cryptocurrency in the country. The document consists of 64 articles and 5 transitional provisions that reinforce the status of El Petro as units of commercial exchange inside the country, for which you can buy goods and services.

However, the Assembly also adopted amendments to existing laws relating to the laundering of illegal funds. New amendments to the local cryptomeria allowed to carry out operations with El Petro and the currencies of other countries. It is expected that these measures will help to overcome the financial and commercial blockades from the US and establishing new international business relations.

Recall that, according to information from official sources, on October 1, created in February of this year, El Petro is used when making international payments, and from the end of October became available to everyone directly through the website and 6 authorised by the government cryptomeria. Two weeks ago the Venezuelan government has launched a savings plan in Petro (PTR), which allows citizens to invest in national cryptocurrency, allegedly provided by oil, and save them with a certificate.