20 October 2020
The government of Venezuela has not shared the rights for the listing of Petro on any abroad crypto exchange.
One of the crypto exchanges based in New York has listed a token with the same name as the Venezuelan state-issue asset, the Petro (PTR). In fact, the two tokens are totally different without any connection or similarity.
BitMart, a crypto exchange, has recently listed a similarly named token for trading on its platform but the Venezuelan government is yet to announce the partnership with overseas cryptocurrency exchanges.
As per the published article by Cointelegraph Spanish, there are seven permitted crypto exchanges to list PTR for trading in Venezuela. The permitted two government platforms, named Plataforma Patria and PetroApp, additionally, allow speculators to access the token. The mentioned exchanges are only available Venezuelan public.
Back in February 2018, Venezuela’s President, Nicolas Maduro announced the launch of the official token, another unconnected token called “PetroDollar (XPD)” skyrocketed over 2,000% on an exchange called Cryptopia.
There were many other projects who took advantage of the announcement simultaneously and promoted them through misleading advertisements.
A few days back, the Bolivarian Council of Mayors in Venezuela signed a bill called the "National Tax Harmonization Agreement" for 305 municipalities in the country. The bills state that Petro is a means of collecting payments for taxes and sanctions.