Post by Enter Nations on Mar 19, 2018 20:37:31 GMT
Americans will not be able to buy or trade the digital currency called Petro, which is supported by the country's oil reserves.
If you were about to invest in the digital currency Petro of the Venezuelan government, maybe you should think twice.
US President Donald Trump issued an executive order on Monday prohibiting the purchase of any cryptocurrency issued by Venezuela since January 9. Trump has authorized Treasury Secretary Steven Mnuchin to implement the necessary rules and regulations to enforce the executive order.
Venezuela has suffered from hyperinflation and lack of liquidity for months. Its currency continues to lose value by leaps and bounds, and the country's citizens have suffered from shortages of food and food.
If you've eyeing Venezuela's Petro digital currency, you're out of luck. President Nicolás Maduro, in an effort to aluntalar the economy and raise funds, began offering the cryptocurrency called Petro since February, which is supported by the country's oil reserves.
The United States, meanwhile, has sanctioned several leaders of the Venezuelan government and has demanded Maduro to distribute more aid to its citizens and stop blocking the assistance that several countries have offered to Venezuela. The prohibition of the purchase of Petro in the USA. It will make it harder for the mature government to raise funds; USA It has also contemplated the option of sanctioning the Venezuelan oil industry, which is the only one that detracts from the South American country's economy.
"President Maduro decimated the Venezuelan economy and unleashed a humanitarian crisis," Mnuchin said in a statement announcing the new sanctions. "Instead of correcting the course to avoid further catastrophe, the Maduro regime is trying to avoid sanctions through the digital currency Petro - a strategy that the democratically elected National Assembly of Venezuela has denounced and that the Department of the Treasure has recommended all Americans avoid. "
If you were about to invest in the digital currency Petro of the Venezuelan government, maybe you should think twice.
US President Donald Trump issued an executive order on Monday prohibiting the purchase of any cryptocurrency issued by Venezuela since January 9. Trump has authorized Treasury Secretary Steven Mnuchin to implement the necessary rules and regulations to enforce the executive order.
Venezuela has suffered from hyperinflation and lack of liquidity for months. Its currency continues to lose value by leaps and bounds, and the country's citizens have suffered from shortages of food and food.
If you've eyeing Venezuela's Petro digital currency, you're out of luck. President Nicolás Maduro, in an effort to aluntalar the economy and raise funds, began offering the cryptocurrency called Petro since February, which is supported by the country's oil reserves.
The United States, meanwhile, has sanctioned several leaders of the Venezuelan government and has demanded Maduro to distribute more aid to its citizens and stop blocking the assistance that several countries have offered to Venezuela. The prohibition of the purchase of Petro in the USA. It will make it harder for the mature government to raise funds; USA It has also contemplated the option of sanctioning the Venezuelan oil industry, which is the only one that detracts from the South American country's economy.
"President Maduro decimated the Venezuelan economy and unleashed a humanitarian crisis," Mnuchin said in a statement announcing the new sanctions. "Instead of correcting the course to avoid further catastrophe, the Maduro regime is trying to avoid sanctions through the digital currency Petro - a strategy that the democratically elected National Assembly of Venezuela has denounced and that the Department of the Treasure has recommended all Americans avoid. "
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