Venezuela Plans a Cryptocurrency, Maduro Says<br />3, 2017<br />CARACAS — President Nicolas Maduro of Venezuela says his government will launch a cryptocurrency to fight<br />what he calls a financial "blockade" by the Trump administration against the socialist-run country.<br />Mr. Maduro said Sunday that the new currency would be called the "petro" and be backed by the OPEC nation’s abundant oil, gold and mineral reserves.<br />Venezuela’s traditional currency, the strong bolívar, has accelerated its free-fall in recent weeks<br />as American sanctions make it harder for the country to stay current on its foreign debt.
