Trump Bans Purchase Of Venezuela’s New National Cryptocurrency; The Petro
President Donald Trump has issued an executive order to ban Venezuela’s new national cryptocurrency, the petro , from being purchased by Americans or by anyone inside a US territory. The ban is the first cryptocurrency-related executive order a president has issued. As of today, U.S. citizens, residents and companies can’t buy or sell Petro. The executive order made by President Trump says that Venezuelan President Nicolas Maduro is trying all he can to avoid the U.S cautions on its new cryptocurrency. Before the ban, back in January , the U. S Treasury department has warned U.S investors. In December , Maduro unveiled its first cryptocurrency. He said “that despite the country going through an economic crisis , that petro will help bounce back the economic and also added that the token will be backed up with the oil and mineral reserves. But the main issue for the ban of the token is that Venezuelan government unilaterally fixes the price of the Petro. The governmen...