Latin America's cryptocurrency

Venezuela’s path from crisis to crypto

Venezuela is often cited as an example of the negative case for crypto adoption, where a perfect storm of an extreme economic crisis, hyperinflation involving an almost complete collapse in the value of the Bolívar, the national currency, a massive fall in living standards, government capital and currency controls, and US economic sanctions have all driven the country towards crypto. Since 2015 the country has lost around two thirds of its GDP.

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