The White House on Monday continued tightening financial sanctions on Venezuela, issuing an order prohibiting U.S. citizens from making any transactions in the Petro, the socialist administration’s newly launched cryptocurrency.
The presidential order prohibits U.S. citizens from dealing in “any digital currency, digital coin, or digital token” issued by Venezuela after January 9, 2018.
Venezuela launched the Petro last month, and had touted the new cryptocurrency as a way to raise international financing amid Washington’s crackdown.
In August, the U.S. Treasury prohibited U.S. financial institutions from dealing with Venezuelan debt. And more than 20 current and former Venezuelan officials, including President Nicolás Maduro, have been hit with individual sanctions.
Read more at our news partner, the Miami Herald.
