President Maduro has said each token will be backed by a barrel of Venezuelan crude. The country holds a "petro" cryptocurrency that is even controversial within its own countries' government. As stated at the time by government officials, Venezuela is seeking to use the cryptocurrency as a way to circumvent worldwide sanctions.
"President Maduro decimated the Venezuelan economy and spurred a humanitarian crisis", he said in a statement.
The order bars "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", issued by Venezuela's government since January 9, the statement said.
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The Indian Air Force , which has been pressed into service for rescue operations, is sending a helicopter to the affected area. As per the latest updates coming in, 1 student has unfortunately lost his life while around 10-15 students have been rescued.
The Petro, which was made available for presale on February 20, is being used specifically to counter US -imposed sanctions and the economic war waged by Washington.
That the Trump administration would make such a move is perhaps unsurprising; several USA lawmakers have sharply criticized the petro, with Senators Bob Menendez, Marco Rubio - and, later, Bill Nelson - writing letters to the Treasury Department asking how it would protect American investors and prevent Venezuela from raising money.
It comes as the South American nation's political crisis continues to result in shortages of food, medicine, and other basic necessities across the country.
Trump issued an executive order proscribing "all transactions related to" the new currency, which is created to make up for a massive government cash crisis.
We call on all people and governments to support peaceful debate and negotiations and to urgently and unequivocally denounce violent opposition, economic sabotage, biased media critiques, calls for foreign military intervention and regime change supported by USA rightwing politicians and the Trump-Administration State Department and military.
"The Petro is a desperate effort by a corrupt regime to defraud worldwide investigators", a senior administration official said on the announcement.
President Donald Trump took a step further in cutting off Venezuela's government from American investors.
Sen. Marco Rubio (R., Fla.) applauded Monday's action against Venezuela.
Conte targeting FA Cup and top-four finish
Messi then scored his 100 Champions League goal to hand the Catalan giants a massive 4-1 aggregate win. Courtois added that they should focus on the FA Cup now with that being the only chance at silverware.
The new sanctions come as the regime of President Nicolas Madura continues a crackdown against civilians in the country.
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The Minneapolis Bid Committee said Thursday it has decided against submitting a formal bid to host the soccer tournament. The stadium hosted the opening game and four other matches during the 1994 World Cup in the United States.
PM Justin Trudeau to tour Evraz Steel
However, he said, Canada would be alert to that and work with industry partners and the Americans to make sure that didn't happen. U.S. tariffs on Canadian steel and aluminum would be "very harmful" for industry and workers in both countries, he added .