The Venezuelan Administrative Service for Identification, Immigration and Foreigners, known as SAIME, plans to accept Bitcoins (BTC) as a new payment method for citizens looking to obtain a Venezuelan passport. This information was originally published by Reddit on June 23.
Soon the news of the update reached Twitter, and some Venezuelan users abroad confirmed the information. The Spanish photographer was able to confirm this news.
“I just reviewed it personally, and it's all right. # Venezuela, Immigration Service, Bitcoin accepts payments. A Twitter user, BTCLovera, wrote:” Renew your passport or request an extension. ”
Similar payments can already be made in the country by using Venezuela's own pseudo-currency, Petro (PTR). So far, the only other alternative has been to buy bolivar through a national bank.
Not available for Venezuelans in Venezuela
Surprisingly, this option does not appear to be available to users who are physically located in Venezuela. Even the author of the original Reddit publication said he couldn't overestimate this option a few hours after it was published.
SAIME has not yet officially confirmed the new payment method. It is not known how long the system has been running, or whether there is a specific type of user profile for accessing Bitcoin payments.
To issue and manage billing addresses, he introduced SAIME BTCPayServer, a well-known BTC payment processor created by Nicholas Dorier. It seems that the system uses its own exchange rate during market prices.
Although the user interface indicates that credit card payments will also be included, it is unclear whether this method will result in additional fees or penalties.
“He only accepts payments using bitcoins … the use of credit cards is prohibited. Juan Rios Velasmal explained on Twitter.
This new news may reflect developments in the Venezuelan government's position on Petro. Maduro System recently announced that about 15% of all fuel payments across the country were made using Petro.
These statistics indicate a sharp increase, possibly due to the new country's plan to promote the widespread use of symbols.