Venezuela Orders Banks to Adopt Cryptocurrency

Venezuelan citizens arrive at the border with Peru in Huaquillas Ecuador on Sunday

Venezuelan citizens arrive at the border with Peru in Huaquillas Ecuador on Sunday

Adopting the Petro, which is now tied to and completely interchangeable with the new "sovereign Bolivar," is not the only reform made by the Venezuela's leader.

Following those clashes, President Temer sent a small contingent of troops to the border town of Pacaraima, where the unrest happened.

"I have decreed a deep and complete restructuring of the company Minerven, which has many internal vices, so that it produces all the gold that the country needs", he said."From now on every month we are going to pay pensions through the digital wallet, so that older adults do not have problems and have their resources freely". "It is a threat to the harmony of the whole continent", Temer said.

In addition to ensuring the security of Brazilians, the soldiers' role is also to look after the Venezuelan migrants' safety, the president stated.

Health officials in Peru are anxious about the spread of communicable diseases in the north as Venezuelans crossed the border ahead of new immigration rules.

What is happening in Venezuela?

Venezuela's economic crisis, exacerbated by a fall in oil prices, has caused basic goods, including food and medicine, to be in short supply, unavailable or unaffordable. Peru has also tightened deadlines for Venezuelans to sign up for a temporary residency card that lets them work in the country legally.

Venezuela has also drastically devalued the bolivar currency, issued banknotes stripped of five zeroes in new "sovereign bolivars".

Thousands of Venezuelans are now fleeing the country every day in what is rapidly deteriorating into a major migration crisis.

Regional tensions have been stoked, as neighbouring countries struggle to accommodate the exodus of Venezuelans.

On Tuesday, Venezuela said it had repatriated 89 citizens who had migrated to Peru but sought to return after suffering 'cruel treatment'.

What are neighbouring countries doing?

There are 400,000 Venezuelans living in Peru, 178,000 of which have permission to be there, Voice of America reported.

Bhuvaneshwar Kumar fit, to play for Ind A in quadrangular series
India fast bowler Bhuvneshwar Kumar will make a comeback to competitive cricket after he was declared fit on Monday. After tests in London, he was sent to the NCA, with the Board's medical team monitoring his rehabilitation.

In a brief televised address Tuesday night, Temer announced that he signed a decree to send in the armed forces to restore order and security in the state.

One minister told journalists that troops were already in place, while another warned Brazil "needs to discipline" the influx of migrants.

The first day the new rule was instituted, Peru reported a more than 50% drop in the number of migrants.

Similar regulations were introduced in Ecuador, only to be overturned by a court ruling.

Venezuelan refugees wait outside the Brazilian Immigration Point in the border city of Pacaraima, Roraima, Brazil, on August 20. Several shots were fired during the altercation, and over 1,200 migrants were forced to cross the border back to Venezuela.

The Brazilian authorities estimate that about 600-700 Venezuelans cross into Brazil from Venezuela daily.

Top immigration officials from Peru, Colombia and Brazil met in Colombian capital Bogota for a summit to discuss how to cope with the influx.

Where is Venezuela in all this?

The country's president, Nicolas Maduro, had staked a lot on the introduction of a national, official cryptocurrency, the Petro. Also, Venezuela is looking to address U.S. sanctions imposed against the country.

"Doesn't it strike you as suspicious there are photos of [these people] walking along the roadside in Peru, walking along the roadside in Ecuador, walking along the roadside in Colombia", said Diosdado Cabello, according to local media.

The head of Venezuela's constituent assembly suggested the country's escalating migration crisis was being staged to make the government look bad.

Critics however called the move a publicity stunt.

Recommended News

  • Andy Murray hints at U.S

    Andy Murray hints at U.S

    While the women's rules already call for a break if the conditions are too extreme, there is no such provision for the men. But Murray was upset that there wasn't better policing of players while they were off the court.
    Iran's Khamenei says Europe cannot save nuclear deal, help economy

    Iran's Khamenei says Europe cannot save nuclear deal, help economy

    The hardliners in parliament criticized Rouhani's economic policy and rejected his explanation for recent struggles. Iran would never negotiate with "indecent and confrontational" USA officials on a new agreement, Khamenei said.
    Buck-a-beer comes into effect in Ontario

    Buck-a-beer comes into effect in Ontario

    Loblaw is offering up its President's Choice brews for a limited time at a $1 a bottle but only in Beer Stores. Some have said they could not afford to participate without sacrificing the quality of their product.
  • Officials investigate 2 probable cases of West Nile Virus in Montgomery County

    Officials investigate 2 probable cases of West Nile Virus in Montgomery County

    The Montana Department of Health and Human Services reports the first West Nile Virus-related death in the state since 2016. Keep mosquitoes outside: Use air conditioning, or window and door screens. - Wear long sleeves and long trousers .
    Gboard Gets 'Minis', Personalised Selfie Stickers for Android and iOS

    Gboard Gets 'Minis', Personalised Selfie Stickers for Android and iOS

    These personalised selfie stickers have rolled out on Android and iOS , and you can find them in the app in Stickers section. Notably, with Google distributing Allo's features to its other apps, Allo's end is probably imminent.
    Brexit breakthrough: Britain to get unique trade deal

    Brexit breakthrough: Britain to get unique trade deal

    If this is a step towards a good bespoke deal that recognised all our red lines, this is a welcome boost". He told the Lords EU Committee: "I'm confident that a deal is within our sights".
  • Panasonic to move European HQ from UK to Amsterdam

    The Japanese company's move is the latest sign of concern from the business community over the protracted Brexit negotiations. Japan is a major investor in the United Kingdom , where more than 800 Japanese companies employ more than 100,000 people.
    China may ease family planning restrictions

    China may ease family planning restrictions

    China has relaxed its family planning policy as its population grows old, birth rates dwindle and its manpower diminishes. Authorities hoped that relaxing the one-child limit to two would solve the country's demographic problems, but it hasn't.
    Moussa Dembele in talks as Lyon admit interest

    Moussa Dembele in talks as Lyon admit interest

    Rodgers said: "Moussa and his representatives were at the club today, speaking with the club". "There is speculation around him. Yes, I think so. 'Moussa's situation is that he came in here for £385,000 to develop and improve and become a better player.
  • Iran, Russia, Turkey to hold Syria summit next week

    Iran, Russia, Turkey to hold Syria summit next week

    The Turkish lira has tumbled about 35 percent since the start of this year, in what Erdogan called an "economic war" from the United States.
    Trump Revives Criticism Of Puerto Rico After Hurricane Maria Death Toll Jumps

    Trump Revives Criticism Of Puerto Rico After Hurricane Maria Death Toll Jumps

    It took emergency responders days to get to many homes because of how widespread the damages were across the island. Before Hurricane Maria devastated the island in September 2017, Puerto Rico's bankruptcy crisis loomed large.
    Tornado warnings in effect for parts of the province

    Tornado warnings in effect for parts of the province

    Tornado warnings began ending in the Barrie area around 8:30, while those for Orillia and through Washago ended shortly after 9pm. However, there are still heat and severe thunderstorm warnings, as well as severe thunderstorm watches, as of 12:45 a.m.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.