Venezuelaβs first state-run cryptocurrency will be backed by three of the countryβs major natural resources. VenezuelaΒpreviously announced their intention to step into the crypto spotlight by creating their own digital currency the Petro. The countryβs president NicolΓs Maduro noted that the creation of the state-controlled crypto is a way to innovate toward new forms of international finance for the economic and social development of the country.β Sidestepping Those Sanctions It could also be due to Read More The post Crude Oil to Support Venezuelaβs Petro Cryptocurrency appeared first on Bitcoinist.com. via ICGO https://www.icgo.co.uk/redirect/?url=http://bitcoinist.com/crude-oil-support-venezuelas-petro-cryptocurrency/