No, you can’t buy Venezuela’s Petro on any overseas exchanges

A New York-based crypto change has indexed a token with the similar identify because the Venezuelan state-issued asset, the Petro (PTR). In fact on the other hand, the 2 are fully unconnected.

Exchanges equivalent to BitMart have lately begun record this in a similar way named token for business on their platforms. Then again, the Venezuelan executive has now not but introduced any partnerships with exchanges out of the country.

In keeping with an editorial printed by means of Cointelegraph Spanish, best seven native crypto exchanges be offering PTR for business in Venezuela. Two executive platforms, named Plataforma Patria and PetroApp, moreover permit speculators to get right of entry to the token. None of those exchanges are technically to be had to a world target audience.

This isn’t the primary time confusion has ended in a spike in worth for a non-affiliated asset. When Nicolas Maduro, president of Venezuela, introduced the reputable token in February 2018, every other unconnected token referred to as “PetroDollar (XPD)” skyrocketed over 2,000% on an change referred to as Cryptopia.

Different initiatives took benefit of the announcement round the similar time as neatly, with some issuing tokens below the similar identify and selling them via deceptive commercials.

Lately, the Bolivarian Council of Mayors in Venezuela signed a invoice referred to as the “Nationwide Tax Harmonization Settlement” for 305 municipalities within the nation. This invoice formally designated the Petro as a method of accumulating bills for taxes and sanctions.

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