The government says it is supporting the petro with an as-yet-unexploited crude field in the Orinocco Belt, the largest crude reserve in the world. By AFPMore by this AuthorCARACAS,Venezuela's controversial cryptocurrency was launched six months ago but has been left in limbo ever since. The government says it is supporting the petro with an as-yet-unexploited crude field in the Orinocco Belt, the largest crude reserve in the world. Venezuela is the country that conducts the fourth largest amount of its transactions, 12 percent, with bitcoin, said Rendon. But that is an unlikely scenario, given Washington has banned petro transactions, while risk rating websites such as icoindex.com describe the petro as a "scam."

Source: Daily Nation September 23, 2018 12:56 UTC