UPSC Express

Which of the following statements is/are correct about Sovereign and Petro digital currencies ?
1. Sovereign is a digital currency of Marshall Island whereas Petro is a cryptocurrency of VenezuelA.
2. Unlike Sovereign, Petro will be recognized in law as a legal tender.
Choose the correct answer from the following codes:
A.
1 Only
B.
2 Only
C.
Both 1 and 2
D.
None of the above
Explanation :
Sovereign is a digital currency of Marshall Island whereas Petro is a cryptocurrency of VenezuelA.
Venezuela had launched the Petro cryptocurrency in February.
Unlike the Petro, the Sovereign (SOV) will be recognized in law as legal tender, holding equal status as the US dollar, which is the Pacific island nation’s current currency.