Venezuela Nationalizes Petro, Will Introduce Crypto-Based Salary System for Workers

Venezuelan President Nicolas Maduro recently revealed that the nation’s oil-backed cryptocurrency, the petro , will be used as a unit of account by the state oil company PDVSA. The government is also developing a new salary system that will allow employees to receive their wages in petro funds over fiat. “As of next Monday, Venezuela will have a second accounting unit based on the price and value of the petro.

Source: Venezuela Nationalizes Petro, Will Introduce Crypto-Based Salary System for Workers

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