US Calls Petro a “Scam”, Bans Venezuelan Cryptocurrency

Last Monday, President Donald Trump had reportedly signed an executive order which bans any kind of transaction involving Venezuela’s ‘Petro’ cryptocurrency in the country.

A senior U.S. administration official additionally called it a scam by President Nicolas Maduro which will further weaken democracy in the OPEC country, and anyone dealing with the currency is directly supporting the dictatorship.

The U.S. Treasury also announced sanctions against four Venezuelan government officials for corruption and economic mismanagement, but denied that it was in relation to the Petro issue.


Source: Reuters

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