Henceforth All Passport Payments in Venezuela is to be Done Using Petro
One thing is clear, the Venezuelan Government will do all it takes to push the use of its oil backed national cryptocurrency, Petro.
In light of this, the government is making sure that anyone looking to get a passport from the Venezuelan immigration office, will have to pay using Petro.
Government is Pushing the coin Adoption
The government has established that it has the power to force the use and growth of the Petro crypto, not minding the backlashes it is getting from its citizens as well as external financial bodies.
Due to the current economic situation of the country that has hit a rock bottom, the country has seen a large chunk of its population leaving for greener pastures. A report has also shown that over 5,000 people leave the country on a daily basis. Majority of these people have been established to be first-time travelers, thus the need for a new passport cannot be understated.
Citizens Need a Passport to Travel
Since it has been established that traveling out of the country requires the use of a passport and the citizens are trying to leave in drove. The government has seen this as an avenue to push the use of the Petro coin.
As a result of this, anyone looking to travel out of the country and needs new passport will have to fork out 2 Petros (about $120 USD).
Adoption is not Limited to Passports Alone
Apart from the passport, the government of the country has been enforcing the use of the coin through other methods. Recently banks within the country were ordered to adopt the use of the coin, companies dealing with monetary transactions were also ordered to follow suit. The government also made it known that once the Petro stabilizes, the country’s salary system is expected to adopt its use. Many perceive the introduction of the coin as clap back against the US-led sanctions against the country.
