ALL PASSPORT RELATED FEE MUST BE PAID IN CONTROVERSIAL CRYPTOCURRENCY PETRO, ANNOUNCES VENEZUELAN GOVERNMENT
Starting from next week, Venezuelans can only pay for their passport fees by state-backed cryptocurrency, the Petro, countries vice president Delcy Rodriguez said on Friday, October 5, in a press conference.
Just ahead of Petro’s official launch in November, vice president confirmed that from upcoming Monday, October 8, only Petro will be accepted regarding all passport related fees, and it will cost an increased amount – 1 Petro for extension of existing passports and 2 Petros if you are applying for a new one.
According to a Bloomberg report, the monthly minimum wage in Venezuela is averagely four times less compared to the increased passport fees.
As per Latin American newspaper El Universal, Rodriguez stated, “In the case of Venezuelans who are abroad, until the first day of November the cost will be $200 for issuance and $100 for extensions.”
Venezuela is battling with increasing inflation rate along with a downhill economy, is seeking to control and stabilize it by introducing Petro as its central currency.
Recently crypto media outlet Cointelegraph reported, President Nicolas Maduro is taking some very controversial decisions amidst this crisis, and people are accusing him plagiarizing altcoin Dash’s whitepaper.
Apart from this, Rodriguez also made an announcement to form a dedicated migration police force, “to preserve citizen security and migratory control.”
Bloomberg mentions that nearly 5,000 Venezuelans flee the country every day.