A Fraud: Venezuela’s National Assembly Declares Petro Unconstitutional

Venezuela’s Assemblea Nacional recently declared it believes the country’s oil-backed cryptocurrency, the Petro (PTR) is unconstitutional. Through a public statement, the lawmakers denounced the cryptocurrency as a fraud, and a threat to those who invest in it. In the public statement, the lawmakers criticized the cryptocurrency’s token sale in general, which reportedly already raised $735 million. To the country’s National Assembly, the Petro is merely a symptom of the country’s ongoing political crisis. The lawmakers criticized the government’s “forced demand” for the cryptocurrency, as it was planning on forcing business and retirement accounts to accept the cryptocurrency. Rafael … Continue reading A Fraud: Venezuela’s National Assembly Declares Petro Unconstitutional