Venezuelan Banks Must Accept Petro—Maduro Introduces New Economic Reforms

Two days ago, Venezuela’s President, Nicolás Maduro, ordered the nation’s banks to adopt the Petro digital currency, so now Venezuelan banks must accept Petro.

In a bid to reform the nation and alleviate the current Venezuelan economic crisis, Maduro is trying to get the Petro coin recognized as Venezuela’s second currency and now banks within the nation must accept the coin.

The hope is that by fixing the nation’s fiat currency to the newly created Petro, financial stability will be possible.

Venezuelan Banks Must Accept Petro

Venezuela’s economic situation is dire. By …