Venezuela Calls 10 Countries to Support El Petro

It is expected that the new cryptocurrency will be released in six weeks
15 January 2018   1430

The President of Venezuela Nicolas Maduro held a meeting of the Bolivarian Alliance for the Peoples of Our America — Treaty of Commerce of the Peoples (Alba — TCP) on Friday, where he called for 10 other countries to adopt oil-backed cryptocurrency El Petro.

I put on the table, brother governments of the ALBA, the proposal of the cryptocurrency, the petro, so that we assume it as one of the projects of the integration of the 21st century in a bold way, but also in a creative way.

 

Nicolas Maduro

The President of Venezuela

The members of ALBA are Antigua and Barbuda, Bolivia, Cuba, Dominica, Ecuador, Grenada, Nicaragua, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines and Venezuela.

Despite the National Assembly of Venezuela voted against the establishment of el Petro on January 10, Nicolas Maduro announced plans for a “petro” premine. It is expected that the new cryptocurrency will be released in six weeks.

On Friday, the Minister for Youth and Sports, Pedro Infante, said Venezuelan youth will propose to the Assembly “to create a special commission that will be in charge of debating the proposals presented by the various sectors, to carry out the financial system of the cryptocurrency Petro.”

Mt. Gox CEO to be Found Guilty of Falsifying Docs

Mark Karpeles has a suspended term of four years ahead to prove his reliability and to avoid a real imprisonment
15 March 2019   120

The Tokyo District Court convicted the former CEO of the Mt.Gox bitcoin exchange, Mark Karpeles, of falsifying documents and sentenced him to two years and six months in prison. Nevertheless, Karpeles has a suspended term of four years ahead to prove his reliability and to avoid a real imprisonment. Reported by The Block.

Note that the prosecutor's office demanded 10 years in prison, however, on charges of embezzlement and violation of corporate law, Karpeles was found not guilty.

Karpeles and his lawyers intend to assess the situation and develop a strategy for action on the charges.

Earlier, the Illinois court rejected the petition of the lawyers of the former head of Mt.Gox to suspend the proceedings against him in the United States. So, American investors Gregory Green and Anthony Motto demand that Carpeles be personally responsible for the loss of their investments.

Once the largest Bitcoin exchange Mt. Gox crashed in early 2014. This happened after the information appeared about its alleged hacking and theft of 800,000 BTC ($ 480 million at that time). In December last year, Carpeles, during his closing speech at a Tokyo court, called himself innocent of the events that caused the millions of client losses and the company's collapse.