In a bid to circumvent U.S. sanctions, the government of Venezuela has begun its first experiments with a program to convert tax revenue into bitcoin and trade it for fiat currency at foreign exchanges. 

The details of this plan were revealed in a report from the Spanish-language ABC International, which claimed that the Venezuelan government is currently only testing the project at the Maiquetía International Airport (IAIM). IAIM is the largest airport in Venezuela for international flights, and all international flights are required to pay a specific tax to the Venezuelan…

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Author: Landon Manning


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