Trump Bans Venezuela's New National Cryptocurrency (cnbc.com)

An anonymous reader quotes a report from CNBC: President Donald Trump issued an executive order Monday banning any transactions within the United States involving any digital currency issued by, for, or on behalf of the Government of Venezuela. The order applies to U.S. citizens as well as anyone within the United States, and includes cryptocurrency issued on or after January 9. President Trump's order is in response to recent attempts by Venezuelan President Nicolas Maduro's regime to "circumvent U.S. sanctions by issuing a digital currency," the White House said in a statement. Venezuela launched its oil-backed cryptocurrency in February to help pull the country out of a continuing economic crisis. President Maduro said each petro token will be backed by one barrel of the state's national petroleum. Maduro also said roughly 100 million tokens would be issued -- estimated to be worth around $6 billion. Bitcoin prices dropped about $200 to around $8,388, according to Coinbase, following the order.

Comments

Congress made that law

[williamyf]

A long while ago, the USoA congress made a law that allowed the executive branch to take special meassures and granted it special powers in case a country was a "threat to USoA security".

Lord Obama declared Venezuela an "unnusual threat", and even renewed the declaration one year latter, just before Lord Trump's Inauguration.

Lord Trump renewed it once more.

But, what lord trump is telling you is to use your money as you see fit EXCEPT in aiding threats to national security. Just as you are supposed NOT to spend your money on goods sold by ISIS, you are not supposed to buy Venezuelan bonds, including the petro.

But is as well, the petro is a giant scam, in this particular case, Lord Trump is doing you a favour.