The president of Venezuela, Nicolás Maduro, has announced his government will be imminently launching a cryptocurrency, as a cash crisis continues to cripple the South American nation.
“I’ve studied this issue in depth, and I want to announce that Venezuela will implement a new cryptocurrency system backed by the oil reserves,” he said in a televised statement on December 3.
According to the government, Venezuela currently has more than 300 million barrels of oil in reserve. However, Maduro ha
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