Venezuelan state cryptocurrency faces corruption accusations

One of the situations that does not allow the massive adoption of cryptocurrencies throughout the world is precisely the problem faced by cryptocurrencies backed by state constituted government foundations, because they are under the control of politicians.

In this sense, the simple fact that a cryptocurrency is under the control of politicians generates distrust, since when talking about politicians the direct link is related to acts of corruption, and in fact state cryptocurrencies have been pointed out for being used for acts of corruption.

One of the cases reported recently indicates that Venezuela could close its cryptocurrency, let's remember that the South American country launched the Petro, the first oil-backed cryptocurrency, an element that in some way in its beginnings generated certain acceptance but as a result of the economic and financial crisis that Venezuela is going through, the acts around the use of the Petro have been tarnished by acts of corruption.

The truth is that, according to information disclosed in multiple news portals, Venezuela's national cryptocurrency, the Petro, is at risk of disappearing after an intervention in the Superintendence of Cryptoassets. Close sources indicate that this measure seeks to address technical problems and the recent linking of the petro to a corruption scandal.

According to reliable Bloomberg sources, the Petro, Venezuela's national cryptocurrency, is in a precarious situation and close to its demise, it has been indicated that this digital currency has faced corruption accusations and has suffered a steady devaluation in recent months.

For the sake of the cryptocurrency market, it is best that the situation Venezuela is going through with the use of the Petro is not taken as an example to attack the market.

Cointelegraph. Reports indicate that Venezuela could close its Cryptocurrency.

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