CARACAS, Venezuela (Heartland Newsfeed) — It appears that in the coming months that the legislative body of Venezuela may be imposing constitutional reforms to create a cryptocurrency central banking system, in addition to tying their new bolivar currency to the proposed Petro cryptocurrency the government has been trying to launch.

According to a news report from Bitcoin.com, Hermann Escarra, a member of the nation’s National Constituent Assembly, revealed the legislative body’s plan for cryptocurrencies during an interview with Reuters on Thursday.

“The National Constituent Assembly of Venezuela is preparing a reform to the Constitution that would include a central bank for crypto-assets and a superior court to the Supreme Court of Justice,” Escarra divulged.

The nation’s dictator, Nicolás Maduro, called for a constituent assembly last spring to draft a new national constitution to replace the 1999 constitution drafted during the tenure of predecessor Hugo Chávez.

Escarra noted that the drafts of proposed changes to the Venezuelan Constitution will have to be presented to the board of the Constituent Assembly in 35 days, which marks September 13 as the deadline.

The proposed reform expects to include the Petro, which was announced as the national cryptocurrency by Maduro in February.

The proposed currency was made as an attempt to increase foreign exchange earnings amidst their internal economic crisis and sanctions imposed by the United States government.

The U.S. sanctions were imposed via executive order from President Donald Trump in May as a result of the country’s “fraudulent election“, but also to further restrict the government’s ability to sell estimated debt liabilities of nearly $1.2 trillion as well as preventing sales of state assets.

The Petro has experienced much controversy regarding the claims made about the currency, including initial offering sales earnings that have no hard-clad proof and its lack of credibility.

Maduro dismissed the country’s crypto superintendent Carlos Vargas in June for “failure to sell the Petro” and was replaced by Joselit Ramirez.

Maduro announced on July 25 that the new currency, the Sovereign Bolivar (Bolivar Soberano) will be linked to the Petro when it’s scheduled to be released next Monday, August 20.