TechFlow news, September 3 — According to Bitcoin.com News, Venezuelan President Nicolás Maduro said during a meeting with banking representatives that the country needs to "return to the cryptocurrency path." This statement comes amid revelations that the previous PDVSA-Crypto initiative led to $20 billion in unaccounted oil sales. Maduro emphasized the global shift toward a multi-currency system but did not mention any revival plans for the national cryptocurrency, the Petro.
Maduro stated: "Let's talk about the world of cryptocurrencies. We started down this road, and now we must return, because a group of thieves derailed the cryptocurrency path, but we will get back on track." In January, Venezuela's national cryptocurrency regulatory body, Sunacrip, entered a restructuring phase, following the arrests of its former head, Joselit Ramírez, and former state-owned oil company PDVSA president Tareck El Aissami over their involvement in the PDVSA-Crypto scheme. Additionally, in May, the national power authority seized more than 17,000 Bitcoin mining machines due to frequent nationwide blackouts.
