The Petro, the crypto-national of Venezuela, is declared to be illegal

The Parliament of venezuela has declared illegal the crypto-currency created by president Nicolas Maduro. This institution has claimed that the technology violated the country’s Constitution. The decree of Maduro to create the digital currency, the national Petro, was declared null and void.

The Parliament of venezuela has decided

The national Assembly of Venezuela said Tuesday that the next crypto-currency, oil, Petro, is illegal. The parliamentary venezuelans have voted unanimously to the absolute nullity of the decree regarding the issuance of the crypto-currency. According to the report of El Universal, the national Assembly had confirmed that virtual currency that the government wants to issue is unlawful and that this institution will do everything possible to ensure that the population does not fall into this trap.

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The mp Williams Davila explained that the parliamentarians had denounced the Petro, claiming that the government only wanted to evade international financial sanctions, violate the Constitution and legitimize the illegal transactions.

A new one, which arrive before the launch of the Petro

The creation of the digital currency national of Venezuela was first announced by president Maduro at the beginning of December. Since then, it has awarded more than $ 5 billion barrels of crude oil to support the new crypto-currency and the security of minors. On Friday, he issued the order to issue 100 million of Petros, and has promised to publish its white paper on 14 January. According to the plan of Maduro, the price of Petro is set relative to the value of a barrel of oil.

Source : Wikimedia Commons, Nicolas Maduro to the national Assembly

In addition, lawmakers have warned investors that even if this new digital currency and was launched with success, it would be considered illegal. In addition, some fear that the Petro will be a true virtual currency. The legislator venezuelan Jorge Millan indicated that this was not a crypto-currency. Following the announcement of the Parliament, Maduro called on the population to reject actively the decision, reported Prensa Latina.

Source : NewsBitcoin