Venezuela Further Ties Economy To Its National Crypto


In a recent announcement, President Maduro of Venezuela said the petro, along with the soon to be released sovereign bolivar, will become an official accounting unit for Venezuela starting Monday. Spanish newspaper ABC reported that Maduro made the televised announcement Monday, during which he said:

«Venezuela will have a second accounting unit based on the price, the value of the petro. It will be a second accounting unit of the Republic and will begin operations as a mandatory accounting unit of our PDVSA [state‐owned] oil industry.» 

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