Could it be that Cryptocurrencies can be sanctioned by a Government?.

It is necessary to highlight the Venezuelan case, which is currently in the crosshairs of the world before the sale of Petro, based in tecnology blockchain, seeking to eliminate the sanctions that the US has implemented so far. For the political analyst Basem Tajeldine, the desperation of the United States (US) before the Venezuelan Petro is compressible, because the digital currency seeks to face the aggressions and economic sanctions of the Donald Trump Government against the South American nation.

In this sense, precisely, one day before March 20, date scheduled for the sale of the Venezuelan crypto-active “El Petro”, President Donald Trump signed an executive order that prohibits all transactions with any digital currency issued by Venezuela. “The Executive Order prohibits, from its effective date, all related transactions, the provision of financing and other transactions by a person from the United States or within the United States, with any digital currency that has been issued by, for or on behalf of the Government of Venezuela as of January 9, 2018.”

Notwithstanding this measure, according to statements by Venezuelan President Nicolás Maduro; “171,015 thousand offers of certified purchases have been received, coming from 127 countries, some are: Afghanistan, Albania, Germany, Andorra, Angola, Antigua and Barbuda, Saudi Arabia, Algeria, Argentina, Australia, Austria, Bahamas, Bangladesh, Barbados, Belgium, Belize, Belarus, Bolivia, Brazil, Bulgaria, Cambodia, Cameroon, Canada, Qatar, Chile, China, Cyprus, Colombia, South Korea, Costa Rica, Croatia, Cuba, Denmark, Ecuador, Egypt, El Salvador, United Arab Emirates United, Slovakia, Slovenia, Spain, United States, Estonia, Philippines, Finland, France “. Thus, the measures prohibiting Petro from the US soil, does not affect what other countries can acquire this cryptoactive. It is necessary to note that El Petro, whose pre-sale began last February, already has an amount of 5,000 million dollars in purchase intentions during its pre-sale process, which ended on March 20.

This executive order of the USA, may decrease the amount that had been previously announced on the money committed in the Presale, but in no case does it leave Petro without validity, much less mean that it will eliminate the capabilities of the cryptoactive to circumvent the trade sanctions that the US has imposed on Venezuela. In this sense, the Petro will be supported by the Bolivarian Republic of Venezuela and the wealth of its large reserves of crude oil. More importantly, the Petro has been created in an innovative way, using the highest standards in blockchain technology and information security, which makes it difficult to establish control mechanisms by the US.

Because they can not even be tracked, it does not pass through centralized entities and also transactions can be made from any computer connected to the Internet anywhere in the world. In the same vein, Time magazine points out that Russia supported the creation of Venezuelan Petro, and helped in the launch of the Venezuelan crypto currency “Petro” as a way to avoid US sanctions, in turn, in Venezuela, the Superintendency of the Cryptoactives and Related Activities of Venezuela (Supcacven), signed a cooperation agreement with the Palestinian company Gigabytes (one of the most important video manufacturers in the world), to supply all the digital mining equipment to the Venezuelan State.

The signing took place at the headquarters of the Embassy of Palestine in Venezuela, promoted by the ambassador of that country, Linda Sobeh Ali, reported a press release. Everything will be paid in full in Petros, from the moment you start your transit in the cryptocurrency market in the country. In this regard, the Venezuelan government hopes that El Petro cryptocurrency strengthens the economy of that nation, and to overcome the current crisis, managing to face and circumvent the economic sanctions imposed by countries like the United States. Therefore, it is necessary to wait for the development of events.


Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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