Venezuela Plans a Cryptocurrency, Maduro Says
- 6 years ago
Venezuela Plans a Cryptocurrency, Maduro Says
3, 2017
CARACAS — President Nicolas Maduro of Venezuela says his government will launch a cryptocurrency to fight
what he calls a financial "blockade" by the Trump administration against the socialist-run country.
Mr. Maduro said Sunday that the new currency would be called the "petro" and be backed by the OPEC nation’s abundant oil, gold and mineral reserves.
Venezuela’s traditional currency, the strong bolívar, has accelerated its free-fall in recent weeks
as American sanctions make it harder for the country to stay current on its foreign debt.
3, 2017
CARACAS — President Nicolas Maduro of Venezuela says his government will launch a cryptocurrency to fight
what he calls a financial "blockade" by the Trump administration against the socialist-run country.
Mr. Maduro said Sunday that the new currency would be called the "petro" and be backed by the OPEC nation’s abundant oil, gold and mineral reserves.
Venezuela’s traditional currency, the strong bolívar, has accelerated its free-fall in recent weeks
as American sanctions make it harder for the country to stay current on its foreign debt.