Venezuela's Planned Petro Cryptocurrency 'Illegal,' Says Congress - CoinDesk
Matteo Loglio

Venezuela's opposition-run congress has declared that a planned new national cryptocurrency called the petro is illegal. According to the legislative body, the issue of the petro - a cryptocurrency backed by commodity reserves, including oil, that was announced by President Nicolas Maduro in December - would be effectively borrowing against the country's oil reserves, a Reuters report says.