Steven Mnuchin, the Treasury secretary, soundly criticized the attempt by the Maduro government to evade sanctions through the creation of a new digital currency known as Petro. USA officials say the country created the digital currency to circumvent financial sanctions on the economically strapped nation.
This month, Maduro said the government had received commitments from investors to purchase $5 billion worth of the cryptocurrency during the pre-sale phase that culminates this week.
Venezuela is the first country to issue its own digital currency.
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. "Those who work to support the Maduro regime and provide it a financial lifeline have chosen their lot and should expect to face the full consequences of turning against their people".
The executive order does, however, beg the question if the same action can be extended to other more open cryptocurrencies that may be adopted by the Venezuelan government. Thus the citizens of Venezuela should not suffer much from this ban since Venezuelans are utilizing other cryptocurrencies to escape the awful policies of their government.
Instead, he talks of "democratizing" access to global financial system for struggling entrepreneurs and decentralizing Venezuela's government-run foreign exchange system, which many blame for the economy's depressed state.
The new EO came on the same day that the administration implemented additional sanctions against the Venezuelan regime, this time targeting four former and current corrupt officials of that government.
Earlier today Trump issues and executive order that immediately "prohibits ... all related transactions, the provision of financing and other transactions by a person from the United States or within the United States, with any digital currency that has been issued by, for or on behalf of the government of Venezuela as of January 9, 2018", reads the order, announced by the White House.
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.
Offer on Pixel 2 XL
Seemingly caused by the Android 8.1 update, this bug causes the phone to subject itself to potentially risky charging states. In addition to this, buying a Pixel 2 or 2 XL by March 31 will also make you eligible to get a free 18W USB-C power adapter.
Isle Of Wight Weather Warning Upgraded For Snow And Ice
The forecaster said: "Outbreaks of showery rain across north-Leinster and Ulster this morning will slowly clear through the day". Have a happy (and safe) St Patrick's weekend! "Highs of only 1C to 3C in the eastern half of the country, 4C to 6C in the west".