Discussion
Which of the following countries has launched the Cripto-pegged Forex Rate recently ?
Answer: D
The country is Venezuela.
In 2018, during its hyperinflation crisis, Venezuela launched the petro, a state cryptocurrency said to be backed by its oil reserves, and redenominated its currency as the bolivar soberano, pegging it to the petro. The petro was thus used as a reference for the exchange rate.
China and Japan have their own central-bank currencies with no crypto peg, and Iceland is known for heavy bitcoin mining, not for a crypto-linked exchange rate.
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