Venezuela is pitching its new cryptocurrency to Qatar in hopes of finding funding

A delegation from Venezuela’s government is in Qatar to pitch its soon-to-be-issued cryptocurrency in an attempt to evade US sanctions, according to two people with knowledge of the meetings. The Venezuelan group led by crypto superintendent Carlos Vargas is currently negotiating discounts on the digital token to lure Qatar as an initial investor, the people said. The digital scrip, known as the petro, which it plans to begin selling next month, is part of Venezuelan efforts to skirt American sanctions that have limited its access to financial institutions.More…