New development: the Venezuelan legislators have declared the Petro to be illegal!
https://www.coindesk.com/venezuelas-national-assembly-declares-petro-cryptocurrency-illegal/One of Venezuela's two opposing lawmaking bodies has ruled that the country's issuance of a national cryptocurrency is illegal under domestic law.
Announced Tuesday, Venezuela's Asamblea Nacional, a group of politicians largely at odds with President Nicolas Maduro and his policies, declared it believes the petro cryptocurrency is unconstitutional, using harsh rhetoric that denounced the project as not only a fraud, but a threat to potential investors.
In a public statement, the group's members lashed out against the sale, which is said to have already raised $735 million, arguing it's simply a symptom of the country's ongoing political crisis.
At issue, the legislature said, are claims by the government that businesses and retirement accounts would need to accept the cryptocurrency, which if issued, would mark the first time any nation-state has issued a blockchain-based form of payment.
The president says it's legal, the legislature says it's illegal...
Hope nobody invested.
