Venezuelan authorities want to issue national cryptocurrency

The Venezuelan authorities are planning to issue a national cryptocurrency due to the difficult economic situation in the state, The Merkle reports.

Challenges that the country is experiencing are caused by hyperinflation. Therefore, citizens no longer trust the national currency and actively use cryptocurrencies. The demand for digital assets is so high that the business even accepts digital cards with the Pepe frog.

In this regard, the Central Bank of Venezuela considers a possibility to issue its own national digital currency. To do this, the authorities invited for cooperation the blockchain company Onixcoin, which created the ONX crypto asset.

However, authorities have quite a questionable attitude to mining in Venezuela. On the one hand, the government is looking for ways to develop the production of cryptocurrency. And on the other, there were precedents when the authorities accused miners of fraud and deprived them of the opportunity to mine.