Venezuela’s Highly Controversial Government-Backed Petro Coin Has Officially Launched-7.69

When rumours surface of a national government planning to issue a state-backed cryptocurrency, it often excites the blockchain community, not least because it gives the digital phenomenon an element of legitimacy.

However, in the case of Venezuela – a nation that the International Monetary Fund expects to hit hyper-inflation levels of more than 1 million percent by the end of this year, sentiment is slightly less positive. Nevertheless, it has just been reported by the Venezuelan Economy Department that the highly controversial Petro is now freely available to buy, sell and trade at six authorized exchanges.

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