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Venezuela to Launch Cryptocurrency To Fight 'Blockade': Maduro

Kitco News

CARACAS (Reuters) - President Nicolas Maduro said on Sunday that Venezuela will launch a cryptocurrency to combat what the leftist leader says is a financial “blockade” against the crisis-hit nation.

Maduro said the OPEC member’s new currency, “petro,” will be backed by natural resources reserves.

Reporting by Alexandra Ulmer; Editing by Mary Milliken

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