Venezuelans Required to Pay Passports in Petro Cryptocurrency

According to a recent Bloomberg report, Venezuelans are now being forced to pay for their passports in Petro, the state-backed cryptocurrency.

In a press conference last Fiday, Vice President Delcy Rodriguez announced that a new passport will cost citizens two petros or roughly 7,200 bolivars.  

It is said that the cost, which is around four times the minimum monthly wage, will likely hinder citizens from fleeing the country.

The oil and mineral-backed cryptocurrency was formally announced by President Maduro just last week, despite arriving in pre-sale in February.

Source: CoinDesk