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Venezuelan companies are ordered to take Petro

Venezuela officially has its own cryptocurrency and its president wants some of the country's state enterprises to use it.

23.Feb.18 3:34 AM
By Daria Zaytseva


Venezuelan companies are ordered to take Petro

According to an entry posted on Twitter by the VTV television network, Venezuelan President Nicolas Maduro has ordered several state companies to convert a percentage of their sales and purchases into the petro.

PDVSA is a state oil and natural gas company, which, in addition to the Venezuelan government, is also subject to U.S. sanctions. Pequiven is a petrochemical company, and Corporacion Venezolana de Guyana (CVG) is a decentralized conglomerate whose subsidiaries include producers of aluminum and gold.

Maduro also said that citizens will be able to pay for fuel, airline and tourism services using cryptocurrencies, including the petro. Similarly, the government had previously promised to accept petros for payment of national taxes, fees and other public services.

And as the world of cryptocurrency adapts to the idea of ​​a state coin, it seems that the Maduro government is moving to launch another one.

Only one day after the start of the controversial petro pre-sale, Maduro made a wave again, announcing that he plans to introduce a second currency next week: the petro gold.

He has yet to disclose further details, and it is unclear whether the president refers to gold belonging to the central bank of Venezuela or its gold natural resources.

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