Venezuela Will Pre-Mine the Petro and Launch in 6 Weeks

Venezuela Will Pre-Mine the Petro to Launch in 6 Weeks

One day after Venezuela’s oil-backed cryptocurrency was declared illegal, the government of president Nicolas Maduro announced plans to pre-mine the petro. The new currency is expected to launch in six weeks.

Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading

Petro Mining Restricted to Government

The Venezuelan Superintendent of Cryptocurrencies and Related Activities, Carlos Vargas, announced during a Venezolana de Televisión broadcast on…


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