Petro cryptocurrency ‘making things WORSE’ as economy faces COLLAPSE

President Nicolas Maduro brought in the Petro as Venezuela’s second unit of currency this week in a bid to curb crippling hyperinflation and skirt US sanctions. But the cryptocurrency is nothing more than a “smoke and mirrors” scheme by the debt-ridden government and its introduction has already failed in its main aims, Lianna Brinded said. The Head of Finance at Yahoo Finance told Express.co.uk the unprecedented introduction of a government-backed cryptocurrency is actually making Venezuela’s problems worse. And she warned the Petro is most likely a scam because the country’s government controls ‘production’ of the virtual currency and the tokens cannot be traded. More…