US Government Warns Against Venezuelan Cryptocurrency, Citing Sanctions

Alex Dovbnya
US Government Warns Against Venezuelan Cryptocurrency, Citing Sanctions
Cover image via U.Today

Anybody interested in buying Venezuela’s state-backed cryptocurrency, the Petro, should think again. The US Office of Foreign Assets Control (OFAC) has issued a statement saying “US persons that deal in the prospective Venezuelan digital currency may be exposed to US sanctions risk.” OFAC considers the purchase of Petro tokens to be “an extension of credit” to the government of Venezuela.

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