Well it seems that Venezuela are now leveraging tax revenue and cryptocurrencies in an effort to evade economic sanctions.I read that a newspaper uncovered a scheme in which President Maduro were using a digital wallet app to turn tax revenue from their airports into bitcoin and other crypto's that were then transferred to exchanges around the world.Then the funds were converted and sent back to VenezuelaApparently the government has a ban from using US bank accounts which is forcing it to look at cryptocurrency as a way to obtain dollars.The taxes are collected through an automated system that works with an app called Jetman Pay (Anyone heard of it?)It always surprises me how the Venezuela government makes it so difficult for their citizens to access a stable currency but are doing it themselves.Does anyone have any knowledge of this?
Submitted July 29, 2019 at 09:32AM
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