CRYPTO INSIDER: Venezuela launches a cryptocurrency

Venezuela's President Nicolas Maduro speaks during a meeting with ministers in Caracas

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Venezuela’s President Nicolas Maduro speaks during a meeting with ministers in Caracas
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Thomson Reuters

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Venezuela has officially launched the sale of its commodity-backed cryptocurrency, the petro. The coin is meant to be a workaround to avoid sanctions against Venezuela’s official currency, the bolivar, which has been rocked by hyperinflation.

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