India refused to buy the national cryptocurrency of Venezuela, despite substantial discount
Source:
The Government of India rejected the proposal of Venezuela to use their cryptocurrency, reports . Despite the tempting discount of 30 per cent of the Indian authorities refuse to trade, backed by Petro.
theEl Petro Cryptocurrency is not accepted by India
Earlier in April, Venezuelan President Nicolas Maduro offered to the government of India bilateral agreement for the sale of Venezuelan oil. The basis of trade transactions between the two countries was supposed to be a cryptocurrency Petro. Maduro has even proposed a very tempting condition of the Indians could conduct a transaction with a discount of 30 percent.
However, the Minister of foreign Affairs of India, Sushma Swaraj kindly declined the offer. The reason for the denial was the policy of the Central Bank of the country. We will remind, the Central Bank of India, all institutional investors to invest in the crypt.
We may not make any commercial relations connected with cryptocurrencies, as they are prohibited by the Central Bank of India. We will try to find another exchange agent for the transaction.
However, a sharp step of the Central Bank against the crypt was a strong push to promote Bitcoin in the country. Ardent resistance to technological progress is not like ordinary Indians, therefore most of the population carries their savings in the cryptocurrency.
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