Venezuela’s Petro Cryptocurrency To Be Used As Unit Of Account For Salaries, Goods And Services

Announcements, News | August 15, 2018 By:

Venezuela’s President Nicolas Maduro has announced that the country’s oil-backed cryptocurrency, the Petro, will be used as an official unit of account.

In a televised announcement, Maduro said that oil and gas company Petróleos de Venezuela (PDVSA) will begin using the oil-backed cryptocurrency as a mandatory unit of account.

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Cryptocurrency Exchange Platform ShapeShift Acquires Crypto Tool Bitfract

Announcements, News | August 9, 2018 By:

Crypto trading platform ShapeShift has acquired Austin-based crypto tool Bitfract to expand its offerings.

The ShapeShift platform gives crypto users the power to quickly swap between assets. With no login accounts required, the platform allows its users to input and output cryptocurrency types and receive an automatic address to deposit the input currency in order to collect the output currency via the addresses provided by its users.

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Crypto Exchange Coinbase Resumes Service In Wyoming

Announcements, News, Regulation | August 6, 2018 By:

Cryptocurrency exchange Coinbase has reopened its services to residents in the US state of Wyoming.

In June 2015, Coinbase suspended its services in the state due to banking regulatory policies. At the time, the Wyoming Money Transmitter Act required Coinbase to maintain dedicated fiat currency reserves in amount equal to the aggregate face value of all funds held on behalf of customers.

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