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Over 860k Venezuelans register to mine Petro cryptocurrency

Venezuela has been making headlines ever since President Nicolás Maduro announced plans to launch “Petro” cryptocurrency.

According to Bitcoin.com, the government has now opened the registrations for miners to sign up for mining and gaining access to the new cryptocurrency. Maduro said that over 860,000 people have already registered.

Last month, Maduro announced the creation of the Superintendence of El Petro Cryptocurrency – a body that will govern the transactions with the cryptocurrency. It launched the registration portal, which will remain open until January 21, 2018. Anyone with national identification can sign up to mine the petro cryptocurrency.

“Natural or legal persons registered in the Registry will be able to acquire other types of cryptocurrencies for free use and demand in Venezuela, as long as they are authorized,” the Minister of Communication and Information, Jorge Rodriguez said (Bitcoin.com quoted from Panorama).

Maduro said that a total of 860,811 people have signed up for the mining farm project so far. Of these, 300,000 have already started working on the project as part of the country’s Chamba Juvenil program.

Recent reports suggested that Maduro plans to launch the cryptocurrency, backed by 5.3 billion barrels of oil, within days.

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