The lawmakers denounced the oil-backed Perto as a fraud and a risk to all of its investors. Initially, the coin was introduced by the government to bypass US sanctions. In his statement, Per Guzmán, the speaker of Venezuela’s National Assembly said that Ptero, that has already raised $735 million on ICO, is a result of country’s ongoing political crisis. He also added that government forced the demand for the cryptocurrency, making businesses and institutions to accept Petro.