US Imposed Sanctions Against Venezuela’s National Cryptocurrency

March 20, 2018

US President Donald Trump has signed a decree to introduce sanctions against national cryptocurrency of Venezuela. The US did not approve of this attempt to skirt the existing economic limitations. In addition, Americans who deal with El Petro may also be subject to sanctions.

It is to be noted that people of Venezuela are suspicious about “petro” either. The country’s parliament has passed strictures on the project.

Remember, Venezuela has already attracted 5 bln dollars during presale while the cryptocurrency will be backed with the oil reserves the country possesses.


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