According to reliable Bloomberg sources, the Petro, the national cryptocurrency of Venezuela, is in a precarious situation and close to its disappearance.. This was announced by the media in an article published on June 13 on its website.
According to Bloomberg, The Superintendence of Cryptoactives (Sunacrip) has decided to eliminate the Petro after facing a series of internal problems and accumulating significant debts.
Since its launch in 2018, the Petro, a controversial cryptocurrency backed by the country’s oil reserves, has been the subject of controversy and scrutiny.
Sanctioned by the United States, this digital currency has faced accusations of corruption and has suffered a constant devaluation in recent months.. These factors, added to the lack of confidence in the cryptocurrency, have led the Superintendence of Cryptoactives to take the possible drastic measure of eliminating the Petro.
The elimination of the Petro has been considered a crucial measure in the negotiations between the Venezuelan government and the United States, with the aim of overcoming the sociopolitical crisis affecting the country. This action is expected to facilitate a possible agreement between the two nations.
However, the demise of the Petro raises serious concerns about the government’s ability to exercise control over the economy and maintain financial stability.
In addition to solving internal problems, the Venezuelan government has announced its intention to pay off outstanding debts, including those contracted with the country’s main department store chains.
These pending payments have generated concern both among local merchants and foreign investors, and their fulfillment is expected to bring some stability to the Venezuelan economy.
According to the sources mentioned in the article, the petro is expected to gradually disappear in the coming months due to an intervention in the Superintendency of Cryptoactives and the efforts of the Joe Biden administration to overcome the crisis in Venezuela.. However, no specific date for its complete removal is provided.
Although some sectors have welcomed this news, others question the implications of the disappearance of this cryptocurrency on the country’s economy.
The petro is the first digital currency issued by the Bolivarian Republic of Venezuela, which is based on the philosophy of cryptocurrencies and uses blockchain technology. Its value is anchored to a basket of Venezuelan commodities, mainly oil.
The petro was created by the government of Nicolás Maduro in 2017, with the aim of evading international sanctions and obtaining financing. However, the petro has faced numerous problems since its launch, which have cast doubt on its viability and usefulness.
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