The Maduro of Venezuela orders the banks to adopt Petro Criptovaluta

Venezuelan banks received the order to use petro, the cryptocurrency launched by the Maduro government, as a unit of account.

The AFP wire services reported that "all financial information" must be named in both bolivars – the Venezuelan official evaluates – as well as the petro, which was presented controversially in December. The Maduro government has stated, without evidence, that it has raised billions of dollars during a presale at the start of this year, despite being rejected by opposition leaders in the country and by international critics, including the United States Government.

In fact, in March, US President Donald Trump approved new sanctions against Venezuela that specifically targeted the petro

. Development is the last mandate to exit the Maduro government on petro. Previously it was announced that the state-owned oil and oil company Petróleos de Venezuela (PDVSA) will begin using the petro as a unit of account, and officials have also ordered that government-funded pensions and wages be anchored in cryptocurrencies.

The latest news comes even after a UN report that states that since 2014 2.3 million people have fled Venezuela during the country's economic crisis.

Image via Shutterstock


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