Venezuela halting Petro crypto amid scandals and setbacks
Venezuela is officially discontinuing its controversial Petro cryptocurrency, a project initiated by President Nicolas Maduro six years ago to counter US sanctions.
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Venezuela is officially discontinuing its controversial Petro cryptocurrency, a project initiated by President Nicolas Maduro six years ago to counter US sanctions.
Explore the dramatic end of Venezuela's Petro cryptocurrency as President Maduro's project succumbs to scandals and operational challenges
Venezuela discontinues its petro cryptocurrency, launched in 2018, due to a corruption scandal and low adoption.
All crypto wallets held on the Patria Platform -- the only website where the petro was tradeable -- will be shut down on Monday, January 15, according to a message displayed on the platform's site.
Venezuela has decided to terminate the petro cryptocurrency launched by its President Nicolas Maduro six years ago.