Venezuela’s Congress declares ‘petro’ cryptocurrency illegal

Venezuela’s Congress declares ‘petro’ cryptocurrency illegal from Reuters

TDC Note – It seems the Venezuelan Parliament sees El Petro in a different light than President Maduro. Maduro is attempting to hold on to power. I ask where he came up with a cryptocurrency so quickly  – and wether it would even function – but, this is a power play on the President’s part. Parliament is attempting to strip Maduro of his power.

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Venezuela’s opposition-run parliament on Tuesday outlawed a “petro” cryptocurrency promoted by socialist President Nicolas Maduro, calling it an effort to illegally mortgage the cash-strapped country’s oil reserves.

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Rory Hall, The Daily Coin and Gospel News Network. Beginning in 1987 Rory has written over 1,400 articles and produced more than 500 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Gold Seek, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Dr. Warren Coates and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Gospel News Network to enjoy some of the best economic, precious metals, geopolitical and preparedness news from around the world.