Venezuela's government is working to enable crypto payment method for her citizens "very soon," according to the president, Nicolas Maduro. 

According to the <a href="https://www.bloomberg.com/news/articles/2019-09-30/maduro-says-venezuela-to-activate-crypto-payment-method-soon">report</a> on Bloomberg, Venezuela is working toward the cryptocurrency world with its plans to activate crypto payment. This method allows for free national and international payment, enabling everybody to conduct banking transactions.

In the words of Venezuela's President, Nicolas Maduro in a television press conference, he said:

"The finance minister and Venezuela's central bank have new instruments which we will activate very soon so that everyone can do banking transactions, as well as national and international payments through the central bank's accounts," Maduro said Monday."

Although "Donald Trump and his sanctions are blocking Venezuela from carrying out transactions in any of the world's banks." Maduro said he believes "There's other formulas to pay, and it's what we're using because our payment system works perfectly in China and Russia."

The news today is coming after Cryptoknowmics recently <a href="https://www.cryptoknowmics.com/crypto/venezuela-oil-company-want-central-bank-to-include-btc-and-eth/">reported</a> that Venezuela's central bank might add cryptos to its reserves. The bank announced it is conducting internal tests to know whether it can hold BTC and ETH in its reserves.

The development was spurred at the request of state-run Petroleos de Venezuela SA (PDVSA). PDVSA seeks to send Bitcoin and Ether to the central bank and have them pay their suppliers with the tokens. 
<h2>Venezuela Crypto Payment and U.S Section</h2>
Notably, U.S. sanctions isolated Venezuela from the global financial system, which contributed to one of the world's critical economic crises. It forced many officials to deploy a patchwork of methods just to send money around. 

While Maduro's effort to launch the world's first sovereign crypto went futile, Venezuela, however, continued to seek digital currencies to overcome the sanction.

"The regime's use of cryptocurrency shows desperation," the opposition's Juan Guaido said in an earlier press conference. He is considered by more than 50 countries as the rightful leader.

"To resort to that kind of subterfuge emphasizes the economic crisis the regime is going through," Guaido added.

Venezuela is Working to Activate Crypto Payment Soon

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.

Venezuela is Working to Activate Crypto Payment Soon

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