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Breaking Up: Trump Prohibits US Citizens, Residents of Crypto & # 39; Petro & # 39; of Venezuela

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US President Donald Trump issued a decree forbidding US citizens to buy, bargain or bargain cryptocurrencies (the Petro) linked to the Venezuelan government.

In what is certainly the first encrypted executive action taken by an American president, the White House has revealed Donald Trump's executive order to ban unconditionally all activities related to Venezuelan cryptocurrencies issued by the government or related in the United States. This measure was "in light of the recent measures taken by the Maduro regime to try to circumvent US sanctions by issuing a digital currency in a process that Venezuela's democratically elected National Assembly has denounced as illegal," he said. the White House.

An extract from the decree confirmed:

All transactions relating to the supply by any person of the United States or the United States of any digital currency, digital record or digital token issued by, for or on behalf of the Government of Venezuela as of January 9, 2018, are prohibited on the date of entry into force of this order.

As previously stated, the Venezuelan president first announced the "Petro", a digital currency backed by Venezuela's huge oil reserves as a way to fight US sanctions and the financial blockade, earlier in December. .

The Petro saw its pre-sale launch on February 20 and is not without controversy with the country's national assembly declaring it "fraud" while market watchers have criticized the petrol for undermine legitimate decentralized cryptocurrencies.

In development …

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