Venezuelan Petro Cryptocurrency is a ‘Scam’, Say Local Merchants

Retail merchants in Venezuela are refusing to accept Petro payments as hyperinflation is causing massive devaluation upon liquidation of the crypto at the banks. Meanwhile, the country’s government has reintroduced price control inspectors as part of efforts to pressure stores into accepting the country’s state-issued digital currency. Merchants Call Petro a Scam According to Venezuelan media platform Tal Cual, merchants in the country have abandoned Petro as a payment method. Reports say merchants who triedRead More The post appeared first on Bitcoinist.com.