/Russia reportedly helped Venezuela launch its petro cryptocurrency to skirt US sanctions

Russia reportedly helped Venezuela launch its petro cryptocurrency to skirt US sanctions



Venezuela’s state-backed cryptocurrency, the petro, is a “half-hidden joint venture” between Venezuelan and Russian officials and businessmen, according to a new report by Time. The petro, which first went on presale on February 20th, is the world’s first state-backed cryptocurrency. Its value is tied to …

Source: Russia reportedly helped Venezuela launch its petro cryptocurrency to skirt US sanctions