December 3, 2017 / 7:29 PM / 14 days ago

Venezuela to launch cryptocurrency to fight 'blockade' - Maduro

CARACAS, Dec 3 (Reuters) - President Nicolas Maduro said on Sunday that Venezuela will launch a cryptocurrency to combat what the leftist leader says is a financial “blockade” against the crisis-hit nation.

Maduro said the OPEC member’s new currency, “petro,” will be backed by natural resources reserves. (Reporting by Alexandra Ulmer; Editing by Mary Milliken)

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