US Senators Have Hard Questions For Treasury Secretary on Petro

Several US senators are concerned about Venezuela’s use of the new Petro cryptocurrency to avoid sanctions

Wed, 03/14/2018 - 19:19

US Senators Have Hard Questions For Treasury Secretary on Petro

Cover image via U.Today

US Senator Bill Nelson has joined two of his colleagues in questioning Treasury Secretary Mnuchin as to how his department plans to keep Venezuela from avoiding sanctions using their Petro cryptocurrency. The senators are “concerned by reports” that Venezuela will be able to use the Petro to avoid sanctions and bring in hard cash at a time it is desperately needed. The Venezuelan Bolivar has been in freefall for years, and the country is running low on hard assets that can be used to pay for foreign goods and debt service.

About the author

David Dinkins

David Dinkins is a freelance writer who holds a Master of Arts in history from Louisiana Tech University and has extensive teaching experience both at LSU – Shreveport and University of Phoenix. He got involved with cryptocurrency in early 2014 working as part of the Dash Core Team and have served in the role of writer/editor (mostly editor) during that time. He has edited a huge number of documents for the Core Team, including the Evolution whitepaper, the PrivateSend whitepaper, and many of Evan Duffield’s communications with the Dash Community.