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The Venezuelan government could not converted to bolivars, the ailing local currency, according to one.
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Venezuela relaunches its petro cryptocurrency - Money TalksVenezuela Ends Controversial Petro Cryptocurrency: Reports President Nicolas Maduro launched the Petro (PTR) in Feb. to support the nation's currency. Venezuela has officially pulled the plug on its Petro cryptocurrency, ending a five-year experiment that was marred by controversy and. Is the petro really 'backed' by Venezuela's oil reserves? According to the Venezuelan government's document, a petro should be exchangeable for a barrel of oil.
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