Venezuela's Maduro authorises 'petro' cryptocurrency

Описание: (21 Feb 2018) Venezuela on Tuesday became the first country to launch its own version of bitcoin, a move it hopes will provide a much-needed boost to its credit-stricken economy.
President Nicolas Maduro launched his country's cryptocurrency, the petro, in a nationally televised event saying "the authorization is immediately relayed to Venezuela's miners."
Officials say the petro is backed by Venezuela's crude oil reserves, the largest in the world, though it hasn't released any details on how this will be guaranteed.
Socialist Maduro late last year announced he was creating the digital currency to outmanoeuvre US sanctions preventing cash-strapped Venezuela from issuing new debt.
In a white paper, the government said it will release 100 million digital petro coins during the first year, with the initial 38.4 million expected to go on sale at a value of 60 US dollars per token.
If all the initial coins offered for sale are grabbed by investors, it could potentially bring several billion dollars into a government mired by cash shortfalls and skyrocketing inflation.
The government has promised that Venezuelans will be able to use the coins to pay taxes and public services.
But with the Venezuelan minimum wage hovering around 3 US dollars a month, it's unlikely citizens will buy in large amounts.
The US Treasury Department has warned US citizens and companies that buying the petro would mean violating sanctions, putting another damper on the release.

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