Cryptocurrency

The Venezuelan parliament has declared the oil-backed cryptocurrency created by President Nicolas Maduro illegal and in violation of the country’s Constitution. Maduro’s decree to create the national cryptocurrency, the petro, has been declared null and void.

Venezuelan Parliament Declared Petro Illegal
The National Assembly of Venezuela on Tuesday declared the country’s upcoming oil-backed cryptocurrency, the petro, illegal. Venezuelan parliamentarians unanimously voted “absolute nullity on the issuance of the petro cryptocurrency,” El Universal reported and quoted Deputy Carlos Valero announcing.