This is unbelievable. These were his words:
any cryptocurrency
Do they have any idea what that means? I can spin up a new cryptocurrency right now. Will they accept it for payment as long as I can show
some level of market liquidity for price discovery? There are literally thousands of coins that have
some market value. The government would be completely insane to accept just
any of them. Most coins have no market depth for them to liquidate into.
It also smells like an all-out cash grab -- or perhaps a
crypto grab. "Let's tokenize our cooked balance sheets and fob the tokens off on everyone. Oh, by the way, we accept BTC for payment now!" It's an interesting ploy, but it comes off very desperate.
This is a shocking development. From one being against the cryptospace now they are trying to fully embrace it. But I cannot decide if this is good or bad hehe.
Also, you have to ask yourself if their oil backed petrotoken isn't potentially violating US trade sanctions.
To me, it doesn't bode well. It seems like it might fast-forward a US government crackdown on cryptocurrency markets.
Now that Petro was released on NEM, I feel bad for anyone involved with the NEM Foundation. They might have some three-letter agencies coming to pay them a visit now.