Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
In recent unfolding of events, President of the US Donald Trump has banned purchases of Petro, a cryptocurrency being rolled out by Venezuelan government to circumvent sanctions. Last December, Venezuelan President Nicolas Maduro gave a statement in which he pledged to create a Bitcoin-like national currency to forestall the financial bans and head toward new methods of international financing for the economic and social development of Venezuela.
United States Secretary of the Treasury, in a statement to the press, said:
âPresident Maduro decimated the Venezuelan economy and spurred a humanitarian crisis. Instead of correcting course to avoid further catastrophe, the Maduro regime is attempting to circumvent sanctions through the Petro digital currency â a ploy that Venezuelaâs democratically-elected National Assembly has denounced and Treasury has cautioned U.S. persons to avoid."
This move doesnât come as a surprise as United States authorities have already raised their concerns over the introduction of Petro and how it would undermine US sanctions imposed on Venezuela. According to the US Treasury, Petro could put US citizens at legal risk since making an investment in Venezuelan currency can potentially conflict with US sanctions against the country.
On the other hand, the popular cryptocurrency Bitcoin price has seen considerable gains as BTC value rose up to the high of $8,700 after having a terrible weekend that saw cryptocurrency's price plummet down to a low of $7,300.
President Trump banned the Venezuelan cryptocurrency through the issuance of an executive order. The first section of the order reads:
"All transactions related to, provision of financing for, and other dealings in, by a United States person or within the United States, any digital currency, digital coin, or digital token, that was issued by, for, or on behalf of the Government of Venezuela on or after January 9, 2018, are prohibited as of the effective date of this order."
Just for the context, the South American country launched Petro back in February 2018 which allegedly raised around $735 million if Maduro's tweet is to be believed. According to many analysts the figure seems dubious and it is merely an effort to bypass US and EU sanctions against the country. It should be remembered that Venezuelans national currency, bolivar's, value is in tatters because of hyperinflation and currently a bolivar is worth only $0.00003. It would be interesting to see how this ban affects Petro that hasnât gotten off the ground yet.
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
TRENDING
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Binance´s Launchpad Gears Up Tor Arkham Token Sale, Starts Recording BNB Balances
2 months ago | Benzinga
Arkham´s New Crypto Intel Trading Platform: A Game Changer For Traders?
2 months ago | NewsBTC
Bitcoin Could Rise to $120K by End-2024: Standard Chartered
2 months ago | Coindesk
Bitcoin Edges Lower; Bone ShibaSwap Becomes Top Loser
2 months ago | Benzinga
JustBit Casino Review
JustBit Casino, which specializes in virtual currencies, is easy to use because withdrawals are expl...
Huobi Token General Overview
Is Ripple The Cryptocurrency of 2021? - In Depth Review of Ripple XRP
Ethereum Classic Review
Monero General Overview
YouHolder
YouHodler is not just another player in the crypto space; it's a dynamic and innovative company ...
XBO
XBO.com cryptocurrency exchange redefines how you interact with crypto. Designed to make the benefit...
Bithumb
Understanding Bithumb This article highlights what is Bithumb and where it is located. It also di...
Bitstamp
Bitstamp's continued success in the crypto market This article highlights what Bitstamp is. I...
Bitfinex
Bitfinex general overview delves deep into its operations since its inception in 2012 up to date. It...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Trump Orders Nationwide Ban on Purchase of Petro, Venezuela's National Cryptocurrency
In recent unfolding of events, President of the US Donald Trump has banned purchases of Petro, a...
US Senate Libra Hearing Proves More Distrust In Facebook Than Cryptocurrency
During the first day of testimony in the US Senate, it quickly became clear that the United...
Bitcoin China: An Unexpected ban???
The crypto-currency market is booming right now and although Bitcoin is reaching unprecedented...
Bitcoin, Ethereum & Ripple Battle - Which Will Rule the Year trend?
The crypto wars are not anything new. It has been intensifying over the years as different coins...
The Bank of England's Big Blockchain Move
The Bank of England has caused a bit of a stir in the crypto community. It recently came to...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)