On Wednesday (04/04) was published the new law by Telesurtv, the National Constituent Assembly of Venezuela (ANC) approved a presidential decree allowing the use of cryptocurrencies and also validating Petro (PTR).
This new regulation is a response to the government itself, which in March considered it an “affront” when members of a parallel assembly said Petro (PTR) was unconstitutional.
Venezuela today is the first country to create a criptocurrency being supported by the state itself. The regulation consists of 12 articles that detail from guarantees of use of cryptoactive to the management of goods and services.
Petro (PTR) is a different cryptocurrency, it was developed by the state unlike other cryptocurrencies that are not issued by central banks or controlled by governments, it is an oil-based cryptocurrency.