Venezuela\u2019s President Nicolas Maduro has stated in a televised press conference the government is looking to \u201csoon\u201d activate a cryptocurrency payment method for its citizens.\r\n\r\nAccording to Bloomberg, Maduro said the cryptocurrency payment method will enable new instruments for \u201cfree national and international payments,\u201d and will allow Venezuelans to conduct banking transactions. Maduro was quoted as saying:\r\n\u201cThe finance minister and Venezuela\u2019s central bank have new instruments which we will activate very soon so that everyone can do banking transactions, as well as national and international payments through the central bank\u2019s accounts. Venezuela is working within the cryptocurrency world.\u201d\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\nEmphasizes The Economic Crisis The Regime Is Going Through\r\nAs reported the country\u2019s central bank could soon add bitcoin and ether to its reserves, as it\u2019s running internal tests to determine whether it can do so. This, at the request of state-run Petroleos de Venezuela SA (PDVSA) which is looking to get the central bank to pay its suppliers with the cryptocurrencies.\r\n\r\nJuan Guaido, who is recognized by dozens of countries throughout the world as Venezuela\u2019s rightful leader, claimed the government\u2019s use of cryptocurrencies \u201cshows desperations\u201d and \u201cemphasizes the economic crisis the regime is going through.\u201d\r\n\r\nVenezuela has issued its own oil-backed cryptocurrency called the Petro. Its use, despite Maduro\u2019s efforts, is seemingly low and isn\u2019t helping the country bypass international sanctions. Venezuela\u2019s central bank has also been accused of laundering BTC obtained with seized mining rigs.