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Petro falters in Venezuela
Mar 28, 2018

Petro falters in Venezuela

Venezuelan President Nicolás Maduro’s gamble on Cryptocurrency may have faltered with news sites reporting that the maximum the government could have raised would have been approx. $2.3 billion as opposed to the $5 billion planned in their ICO. Locally, this initiative got mixed reviews - Venezuelan Congress has declared that the currency illegal and unconstitutional. Venezuelan National Assembly has also recently condemned the petro as a fraud and a threat to its potential investors. Internationally, according to TASS, the Russian Ministry of Foreign Affairs, stated that there is no involvement of Russian officials with the Venezuelan project. Earlier, Chinese credit agency Dagong, said that petro “May Help the Global Currency System”. Source: CCN (

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