In Venezuela, President Maduro opens a cryptocurrency casino

Venezuelan President Nicolas Maduro said on Friday January 17 that he has authorized the opening of a casino in Caracas that will work with the national crypto-active Petro, which he launched two years ago and which is affected by US sanctions. This is reported by the elnuevoherald edition.com.
“An international casino will open at the Humboldt Hotel in Caracas, and everyone who wants to place a bet will bet on Petro, and all these resources will go to the state for health and education. Casino bets can be made in convertible currency and users can buy Petro Petro token if they bring yuan, yen, dollars, euros or any other cryptocurrency, “Maduro said during his speech on state TV.
In Venezuela, casinos and bookmakers are allowed under a law passed in 1997, which states that the National Casino Commission is the organization responsible for issuing operating licenses. Among the requirements set by Venezuelan law for the approval of a casino license is that the premises must be located in an area declared by the authorities as a tourist destination, or in a five-star hotel that must have at least 200 rooms. The Humboldt Hotel is located at the top of the Varaira Repano hill, also known as El Avila, in Caracas and was opened in 1956. Late last year, he returned to work after a period of inactivity.
Venezuelan cryptocurrency Petro was launched almost 3 years ago by Maduro in the midst of his attempt to avoid US and European Union sanctions against some government officials and companies. But just a few days after the launch, the United States has banned the use of this cryptocurrency.

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