The Maduro regime continues to rely on digital currencies to keep the economy liquid.
via Instagram, an engineering brigade of the Venezuelan Army has inaugurated the Center for the Production of Digital Assets for the Bolivarian Army of Venezuela. As the video shows, the center houses several ASIC chip mining equipment used to hack proof-of-work algorithms.
where General Lenin Herrera introduced the new mining operation. The stated goal of the mining operation is to strengthen and sustain our units in the Bolivarian Army, adding later that these mining centers will generate non-blocking sources of income and an alternative to the system of trust that is forbidden and controlled by colonial interests, referring to the United States, the country that has imposed sanctions on many of its affiliates. To the Maduro regime.
With the collapse in oil prices and political turmoil that affected even before (Covid 19), Venezuela has experienced historic inflation in recent months.
According to the Queen Telegraph in September, Nicolas Maduro proposed the Anti-Ban Act, a statutory body that proposes to use digital currencies to evade sanctions and obtain funding from international allies. / p>
These intentions are nothing new. The Maduro administration went so far as to launch and promote its digital currency, Pietro, which had limited success.
On the other hand, the US military is also closely monitoring cryptocurrency activities in Venezuela. Admiral Craig Stephen Faller recently referred to Maduro's use of digital currencies and went so far as to link his use to drug trafficking and terrorism, adding that the armed forces monitored all of these operations.
