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Notwithstanding, President Nicolas Maduro declared that the petro would be used as legal tender in Venezuela; however, to date, no one appears to hold, trade, or accept the petro. Please note that our privacy policy , terms of use , cookies , and do not sell my personal information has been updated. Freeman Law can help with digital currencies, tax planning, and tax compliance. Juan Blanco, CEO of BitData, a small crypto-mining company based in Caracas, expressed the notion that for some reason small companies must pay the price for government misdoings. Other Cryptocurrency and Blockchain Resources:.