State Cryptocurrency ‘Petro’ is Illegal, Declares Venezuela’s Congress

The post State Cryptocurrency ‘Petro’ is Illegal, Declares Venezuela’s Congress appeared first on CCN

Venezuela’s parliament, notably run by the opposition, has outlawed President Nicolas Maduro’s much-vaulted oil-backed national cryptocurrency, the petro. It was December when controversial Venezuelan president Nicolás Maduro first unveiled plans for a national cryptocurrency, dubbed the petro, backed by the country’s massive oil reserves. Venezuela has the world’s largest oil reserves for any single country.

The post State Cryptocurrency ‘Petro’ is Illegal, Declares Venezuela’s Congress appeared first on CCN

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