Venezuela ends Petro cryptocurrency amidst challenges

The Venezuelan government has officially terminated its national cryptocurrency, the Petro (PTR), effective January 15, 2024. Launched in 2018, the Petro was introduced as an oil-backed digital currency, aimed at bypassing U.S. sanctions and mitigating the economic impact of the bolivar’s devaluation. However, the Petro has faced multiple challenges since its inception, leading to its […] source: https://www.cryptopolitan.com/venezuela-ends-petro-cryptocurrency-amidst/