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Trump forbade Americans to conduct operations with the Venezuelan cryptocurrency Petro

Violators will be prosecuted by law.

20.Mar.18 5:49 AM
By Anna Sinarevskaya


Trump forbade Americans to conduct operations with the Venezuelan cryptocurrency Petro

Donald Trump signed a decree according to which US citizens are prohibited from conducting any operations with the Venezuelan cryptocurrency El Petro.

"The implementation of any transactions by individuals and legal entities of the United States or in the United States in the cryptocurrency issued by the Venezuelan government is prohibited from today," reads the document published the day before. 

The reason for the measures taken was that, according to the White House, the Maduro regime uses a new tool to bypass American sanctions. Trump stressed that responsibility would follow any attempt to avoid the ban. 

In February, Venezuela began selling its crypto currency "petro." The cost of one unit was tied to the cost of oil produced in the country. President Maduro said that investors already expressed a desire to buy "petro" for 735 million dollars. 

The Crypto-currency is intended to be actively introduced into the daily life of Venezuela - it will be able to pay for air travel, travel services and much more. 

Nicholas Maduro hopes that with the help of "petro" the country will overcome the gravest socio-economic crisis.

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