A new war of words has broken out between Washington and Caracas after President Donald Trump banned the use of the oil-backed cryptocurrency launched by Venezuela in a bid to undermine the dominance of the petro-dollar.
Trump signed an executive order late on Monday prohibiting trade in the Venezuelan government’s newly-launched Petro cryptocurrency in the US. The order bans “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, a White House statement said. Continue reading “US bans use of Venezuela’s oil-backed cryptocurrency as a ‘scam supporting dictatorship’”