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.
Be the first to comment