Venezuelan Candidate Calls for Nation to Embrace Digital Currency

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Since Early last year, the government of Venezuela has been engaged in an ongoing crackdown against Bitcoin and other digital currencies. Officials have arrested Bitcoin miners, confiscated equipment, and intimated websites that deal with cryptocurrency. If Jorge Dommar has his way, however, the government’s hostility to digital currency would end.

Dommar is running to serve as a member of Venezuela’s Constituent Assembly, which is expected to begin work on a new constitution for the country sometime after elections on July 30th. In a campaign video released this week, the candidate called for Venezuela to legalize digital currency and work to embrace the technology.

According to reports, Dommar believes that the adoption of cryptocurrency and its technology can help his country to better position itself for future growth.

In addition to his call for legalization of cryptocurrencies, Dommar suggested that Venezuela also needs to increase its “access to the world market, and be at the forefront of the international financial market.”

His suggestion is likely to be popular with many average Venezuelans, as Bitcoin use in Venezuela has experienced dramatic growth in recent months. It's almost equally likely that his proposal can expect a dramatically different reaction from officials within the government.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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