A New York-based crypto alternate has listed a token with the identical title because the Venezuelan state-issued asset, the Petro (PTR). In actuality nonetheless, the 2 are entirely unconnected.
Exchanges comparable BitMart have late begun itemizing this equally named token for commerce on their platforms. However, the Venezuelan government has not but introduced any partnerships with exchanges overseas.
According to an clause written by Cointelegraph Spanish, entirely seven native crypto exchanges supply PTR for commerce in Venezuela. Two government platforms, named Plataforma Patria and PetroApp, furthermore enable speculators to entry the token. None of those exchanges are technically accessible to a world viewers.
This isnt the primary time confusion has led to a spike in worth for a non-affiliated asset. When Nicolas Maduro, president of Venezuela, launched the official token in February 2019, one other unconnected token familiar as PetroGreenback (XPD) skyrocketed over 2,000% on an alternate familiar as Cryptopia.
Other initiatives took benefit of the announcement crosswise the identical time as effectively, with some issue tokens below the identical title and merchandising them via deceptive ads.
Recently, the Bolivarian Council of Mayors in Venezuela signed a bill familiar as the "National Tax Harmonization Agreement" for 305 municipalities inside the nation. This bill formally elite the Petro as a method of amassing finances for taxes and sanctions.
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