Venezuela’s National Assembly named …

Venezuela’s National Assembly calls ‘petro’ cryptocurrency illegal

Venezuela’s National Assembly – a group of politicians opposed to President Nicolas Maduro and his political initiatives – issued a statement on Tuesday in which it called the “petro” cryptocurrency unconstitutional and indicated that it is not only a scam, but also a threat to potential investors.

In addition, the group condemned the sale of petro tokens – which reportedly raised $ 735 million – arguing that it is only a symptom of the current political crisis..

Also controversial, according to lawmakers, are government statements that cryptocurrency should be accepted by pension funds and companies..

Thus, the National Assembly is still trying to expose “petro” as another way the government steals money from Venezuelan citizens. Inflation and unemployment have skyrocketed in Venezuela over the past several years. In addition, according to the New York Times, during this period, another parliamentary body appeared in Venezuela, created by President Nicolas Maduro and called the National Legislative Assembly.

The new parliament backs the petro issue, calling it an act of rebellion that will allow the country to bypass painful Western sanctions.

Venezuela's National Assembly named ...

However, Rafael Guzman, who heads the opposition parliament’s financial and economic commission, which is responsible for the budget, government loans, and financial, monetary and exchange policies, says about petro: “This deepens the crisis we live in. PTR is another example of corruption, and we will get out of this crisis with the help of measures announced by our Parliament “.

The Venezuelans themselves are also strongly divided over the state cryptocurrency. Points of view about the decision initiated by Nicolas Maduro are so polarizing that they resemble two opposing armies.

Venezuela's National Assembly named ...

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