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Venezuela Will Create New ‘Petro’ Cryptocurrency πŸ“°

Venezuelan President NicolΓ‘s Maduro says his country will create the “Petro”, a cryptocurrency backed by Venezuela’s oil reserves and other natural resources like gas, gold and diamonds. Unveiling the petro plan on his weekly national TV program Sundays with Maduro, the president said the cryptocurrency (in Spanish, criptomoneda) could help Venezuela evade international sanctions.

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