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U.S. Bans Venezuela's Cryptocurrency

posted by mrpg on Wednesday March 21 2018, @04:11AM   Printer-friendly
from the ¿y-ahora-que? dept.

takyon writes:

U.S. bans transactions with Venezuela's digital currency

President Donald Trump on Monday signed an executive order barring any U.S.-based financial transactions involving Venezuela's new petro cryptocurrency, as U.S. officials warned that it was a "scam" by President Nicolas Maduro's government to further undermine democracy in the OPEC country.

"The 'petro' is a desperate effort by a corrupt regime to defraud international investors," a senior U.S. administration official told reporters, strongly warning that any transactions in the petro digital currency would violate U.S. sanctions. "Investing in the 'petro' should be viewed as directly supporting this dictatorship and its attempts to undermine the democratic order in Venezuela," the official added.

Trump's 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 Jan. 9, the White House said in a statement.

Also at the New York Times.

Previously: Enter the "Petro": Venezuela to Launch Oil-Backed Cryptocurrency

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  • (Score: 1) by khallow on Wednesday March 21 2018, @07:09AM (5 children)

    by khallow (3766) Subscriber Badge on Wednesday March 21 2018, @07:09AM (#655961) Journal

    I would hope most everyone understands that, however the US trying to block this move just shows how scared they are that the petro-dollar will lose it's power.

    And I would hope you understand what the word, "scared" means.

    I don't want to see my country thrown into chaos

    A bit late for that, isn't it?

  • (Score: 0) by Anonymous Coward on Wednesday March 21 2018, @07:20AM (4 children)

    by Anonymous Coward on Wednesday March 21 2018, @07:20AM (#655963)

    You are correct, Trump destroyed the last bit of veneer covering US imperialism.

    • (Score: 1) by khallow on Wednesday March 21 2018, @08:30AM (2 children)

      by khallow (3766) Subscriber Badge on Wednesday March 21 2018, @08:30AM (#655987) Journal

      You are correct, Trump destroyed the last bit of veneer covering US imperialism.

      Which would be relevant, if US imperialism were a big deal. Currently, its primary application is as a source of blame for other countries's inadequacies.

      • (Score: 0) by Anonymous Coward on Wednesday March 21 2018, @04:51PM (1 child)

        by Anonymous Coward on Wednesday March 21 2018, @04:51PM (#656192)

        Please try and keep your naivety to yourself.

        • (Score: 1) by khallow on Wednesday March 21 2018, @05:05PM

          by khallow (3766) Subscriber Badge on Wednesday March 21 2018, @05:05PM (#656200) Journal
          Look we have a century of American imperialism and while it's pretty seedy, it's also pretty paltry in its extent for a global phenomenon. Soviet imperialism led to a billion heavily oppressed people.

    • (Score: 2, Insightful) by khallow on Wednesday March 21 2018, @06:26PM

      by khallow (3766) Subscriber Badge on Wednesday March 21 2018, @06:26PM (#656268) Journal
      I think what's particularly silly about the argument is the idea that because someone makes a choice, then they are "afraid" or "scared" of the other choices. For example, if I choose gas station A because it's on my side of the street and thus, far more convenient than gas station B on the other side, it means that I am scared of gas station B. That's a pretty complete devaluing of the words.