Following a similar move from its ally Venezuela, the Cuban government is exploring the use of cryptocurrency to sidestep harsh US sanctions that have taken a heavy toll on its economy.
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The Iranian government could roll out its own cryptocurrency in the future, after recent statements were issued by the country's ICT minister. Iran looks to be following in the steps of Venezuela.
The Venezuelan state-sponsored cryptocurrency, the Petro, will be offered in a pre-sale to investors tomorrow. The Petro is an attempt for the country to try and deal with various economic woes.
The Venezuelan government has announced that its new cryptocurrency, the Petro, will be launching in the next few days. The government has dedicated the Ayacucho oil reserve to back the Petro.
Citing a need to fight against a US-imposed financial blockade, Venezuela's president has declared that the country will launch its own cryptocurrency backed by the country's natural resources.
