Venezuelan president Nicolas Maduro has announced a new cryptocurrency amid an economic crisis and a plunge in the value of the bolivar, the country's national currency.

According to Reuters, Maduro made the announcement during a Christmas television special, stating that the as-yet-to-be-launched cryptocurrency would be backed by commodity reserves, including oil.

From Coindesk... Link to article below

https://www.coindesk.com/venezuelan-president-announces-petro-oil-backed-cryptocurrency/