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Venezuelan cryptocurrency Petro receives the Satoshi Nakamoto Prize in Russia

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Despite all the doubts and controversies surrounding the project, El Petro, the Venezuelan cryptocurrency, recently received the award Satoshi Nakamoto of the Russian Association of Cryptocurrency and Blockchain (RACIB) for his "outstanding contribution to the development of the blockchain industry," according to the official community.

The awards ceremony was held in Russia in the presence of Venezuelan Ambassador Carlos Rafael Faria Tortosa. In addition to "El Petro", the awards ceremony held at the World Trade Center at the Racib International BLOCKCHEINF-2018 congress had 12 other winners in different categories. Racib is an organization active in the Russian blockchain industry and has several members from traditional and finch sectors, including governments.

The award reinforces suspicions about the involvement of Russian officials in the Venezuelan project. According to Mr. Telesur, the Deputy Minister of Industry and Trade of the Russian Federation Oleg Nikolayevich Ryazantsev was in Venezuela in April to discuss cooperation with the Latin American nation in several areas, including l 39; adoption of Petro as a method of payment between nations. The proposal was presented by Wilmar Castro, Vice President of the Venezuelan Economic Zone.

Recently, a well-publicized press article claimed that Russian President Vladimir Putin had directly turned on Russia to help the Venezuelan crypto project. According to the publication, Denis Druzhkov and Fyodor Bogorodsky were the intermediaries of the initiative. Mr. Druzhokov is the CEO of Zeus Trading. Mr. Bogorodsky has been described as the director of the company Aerotrading, whose website consists of a single home page, without any other relevant information about the company. He was convicted in the US for fraud in future contracts and now lives in Uruguay. Both companies were announced by President Maduro as members of the project. The Russian government has denied any suggestion of its involvement in the PEtro.

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The Venezuelan Congress has already declared that the currency was illegal and unconstitutional, and the country's National Assembly recently denounced cryptocurrency as a fraud and a threat to potential investors. On the other hand, the Chinese agency Dagong said that it was legitimate.

US President Donald Trump has shown himself opposed to Maduro's cryptocurrency and recently signed a constitutional order banning Petro in the United States. In addition, according to a survey conducted by Criptomoedas Fácil and the CCN, President Nicolas Maduro could have announced false figures on the total investment collected during the Petro ICO. Despite all this, President Maduro persevered with the project and even plans to launch a new token, the Petro Gold. It would be backed by the nation's gold reserves, considered the second largest gold reserve in the world, with the potential to mine seven thousand tons.

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