Vice President Of Venezuela: Passport Fees Must Be Paid In Petro

Following the developments of the controversial Venezuelan state-backed cryptocurrency-Petro, this time again in the crypto news for the making it mandatory for citizens to pay passport fees using this cryptocurrency.

Vice President Delcy Rodriguez announced the news on a press conference last Friday.

Petro is due to launch officially in November. Rodriguez thus confirmed that all fees concerning passport applications can only be paid in Petro and the cost will be 2 Petros for getting a new one and 1 Petro of extending the old one.

According to reports provided by Bloomberg, the minimum wage in Venezuela is four times less than the cost of the passport fee. This means that for all the people from Venezuela that are away from the country, getting a new passport until November will cost $200 and $100 for extensions.

Petro was established as a tool to help decrease the negative effects of the insane inflation and failing economy, by trying to use it to avoid capital controls.

The president of Venezuela, Nicolas Maduro was accused many times that due to the economic crises the country is in right now, he hurried to copy the whitepaper of the altcoin Dash.

Rodriguez also noted that besides the passport fees, they are working on forming a migration police force that will provide citizen security and migration control. According to statistics, more than 5,000 citizens flee Venezuela every day.