Maduro Urges Venezuelan Schools to Start Mining Crypto


Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
Nicolás Maduro, the Venezuelan president, has instructed high schools and universities in Venezuela to operate cryptocurrency mines, in order to “continue with the strengthening of the national economy.”

Media group noticias24 quoted Maduro as saying, “I want each high school to have a cryptocurrency mine; in each neighborhood and community.” The president not only urged schools around the country to use computers in their IT departments to mine cryptocurrencies, but also said he would allow savings banks in the country to begin cryptocurrency mining operations.
Per Telesur, the country’s state-sponsored news network, Maduro also has pledged to create a “digital cryptocurrency bank” for the country’s youth and students. The bank will receive an initial USD 1.2 billion worth of the state-issued, oil reserves-backed Petro cryptocurrency in funding.
The government says the cryptocurrency funding will provide support for young people enlisted in the state-issued Chamba Juvenil Plan, an initiative looking to foster youth employment. The plan says its goal is “100% youth employment” in Venezuela.
The president is recently allowed 16 cryptocurrency exchanges to begin operating in the country, and is looking to offer cheap oil exports to countries that agree to buy Petro tokens.
- How Tether Co-Founder William Quigley Views Crypto Regulations in Trump’s Second Term
- Trump Appoints PayPal Veteran David Sacks as ‘White House AI and Crypto Czar’
- Google’s Gemini AI Predicts the Price of XRP, Pi Coin and Cardano by the End of 2025
- XRP Price Prediction: Investors on High Alert for July 14, 21, 25 – What’s Next for XRP?
- Bitcoin Price Prediction: BTC Overtakes Amazon’s Market Cap – Could BTC Hit $1 Million in 2025?
Why Trust Cryptonews
Follow Cryptonews
Market Overview
- 7d
- 1m
- 1y
- How Tether Co-Founder William Quigley Views Crypto Regulations in Trump’s Second Term
- Trump Appoints PayPal Veteran David Sacks as ‘White House AI and Crypto Czar’
- Google’s Gemini AI Predicts the Price of XRP, Pi Coin and Cardano by the End of 2025
- XRP Price Prediction: Investors on High Alert for July 14, 21, 25 – What’s Next for XRP?
- Bitcoin Price Prediction: BTC Overtakes Amazon’s Market Cap – Could BTC Hit $1 Million in 2025?
More Articles

Get dialed in every Tuesday & Friday with quick updates on the world of crypto