Various countries continue to oppose cryptocurrencies. Venezuela has become a notorious example in that regard. In a recent turn of events, the government is now targeting companies who pay employees in Bitcoin. One company has been officially sanctioned for doing so. Things got so bad that numerous employees were laid off in the process.
Venezuela has Many Problems
Most people are aware of how Venezuela is struggling financially. The country has gone through recession and hyperinflation in recent years. It seems things are not improving either, as the situation only grows direr. Government officials are now officially investigating companies paying their employees in Bitcoin. Escaping the negative cycle of financial woes in Venezuela is not allowed.
A recent Reddit post shows how dire things have gotten in recent months. One company began paying its employees in Bitcoin. On the surface, there is nothing wrong with doing so. After all, private companies in the country can still make their own decisions, although Hugo Chavez…