Venezuela is pushing forward with plans for adoption of the country’s digital currency – Petro. Per a Bitcoin.com report, President Nicolas Maduro has announced that an international casino will be opened at a luxury hotel. According to the announcement, all bets and games at the casino must be done using Petros.
The Humboldt Hotel is located at the El Avila hill in Caracas and will house the casino. The President explains that all of the gains from the casino will be channelled into health and education endeavours. Maduro also specified that the casino will allow patrons to first convert other fiats and digital assets into Petro.
“You can come to bet. There will be offers, special prices. You buy your Petro tokens, you can buy them if you bring yuan, if you bring yen, dollars, euros or any other cryptocurrencies…buy your Petros and make your licit bets allowed by the state as contemplated by national laws.”
The Petro is Venezuela’s official digital currency and was launched in 2018. The government launched it as a way to circumvent sanctions imposed on the country by other regions including the U.S. and the U.K.
The move backfired as in March 2018, U.S. President Donald Trump signed an executive order banning American citizens from doing anything with the Petro.
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