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Washington Aims At Venezuela’s Cryptocurrency In New Round Of Sanctions

Lilian Tintori, center, wife of opposition jailed leader Leopoldo Lopez, greets supporters upon her arrival to a citizen assembly at the Chacao municipality in Caracas, Venezuela, on March 17, 2018.
Associated Press
Lilian Tintori, center, wife of opposition jailed leader Leopoldo Lopez, greets supporters upon her arrival to a citizen assembly at the Chacao municipality in Caracas, Venezuela, on March 17, 2018.

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

Copyright 2018 WLRN 91.3 FM

Jim Wyss is the South America bureau chief for The Miami Herald. He has a master of science degree from the Columbia University Graduate School of Journalism and a bachelor of arts degree from American University in journalism and Spanish. He lives in Bogota, Colombia.