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Venezuela sets initial digital currency value at $60

Venezuela on Wednesday set the initial value of a digital currency it created to overcome a liquidity crisis at $60, but its price will fluctuate based on the oil market, authorities said. The Latin American country -- which has the world's largest proven oil reserves but is facing a crippling economic crisis -- said a pre-sale for 38.4 million "Petro" units out of a total 100 million would take place between February 20 and March 19.
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