Petro Pre-Sale Raised $735M, Venezuela Says

Venezuela has reported that the pre-sale of its oil-backed cryptocurrency, the Petro, has attracted $735 million on the first day
21 February 2018   841

Looks like first governmental tokensale is going great. Petro tokensaled raised $735M on the first day of sale. This is reported by News Bitcoin Com.

Petro Pre Sale
Petro Pre Sale

Totally 82.4 million petro tokens are offered for the pre-sale phase, as whitepaper details.

The presale and initial offer will be made in hard currencies and cryptocurrencies, but not bolivars…Our responsibility is to put (the petro) in the best hands and then a secondary market will appear.
 

Carlos Vargas

The Superintendent of Cryptocurrencies

As the Minister for University Education, Science and Technology, Hugbel Roa says the traffic to the petro website “quintupled with the global announcement of the pre-sale of the Venezuelan cryptocurrency,” shortly after midnight local time.

Venezuela had received $735 million in the first day of a pre-sale of the country’s “petro."
 

Nicolas Maduro

Prsident, Venezuela

Interesting information can be found in the Petro buyers manual.

The Blockchain launched by the Venezuelan State has robust security mechanisms since its programming elements are related to a technological platform called: NEM blockchain.
 

Petro Buyer's Manual

Looks like Venezuelian government chose NEM as a basis for it's token instead of popular Ethereum blockchain.

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.
 

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.