POTUS banned purchase of Petro

The decision is made in accordance with the ongoing campaign of pressuring the current government of Nicolas Maduro
20 March 2018   596

On March, 19 Donald trump issued an order to forbid any purchase operations of the Venezuelan cryptocurrency. Treasury Secretary Steven Mnuchin was authorized to carry out all the necessary enforcement actions to adopt the order. There is an ongoing policy of the US government to oppose the Venezuelan one and pressure it. Such action interferes with the Venezuela interests to enhance its foreign reserves as the transactions of only US dollar and euro were greenlit.

It’s a pretty big blow. Since most cryptocurrencies are not actually backed by anything real, cryptocurrency speculation is based on the greater fool theory -- I can buy this at $100 because there is someone who is a bigger idiot who is going to buy it at $200. When you take the U.S. out of that equation, you reduce the interest and potential for that speculation.

 

Russ Dallen

Managing director, Caracas Capital

The sanctions against Venezuela apart from Petro purchase bad include government officials both current and former like Vice Minister of Internal Commerce, alternate director of the board of National Bank of Housing and Habitat and former president of board of directors of Venezuela Institute of Social Security. The situation of Venezuela will be discussed at G20 conference.

President Maduro decimated the Venezuelan economy and spurred a humanitarian crisis. Instead of correcting course to avoid further catastrophe, the Maduro regime is attempting to circumvent sanctions through the Petro digital currency – a ploy that Venezuela’s democratically-elected National Assembly has denounced and Treasury has cautioned U.S. persons to avoid. We discussed how to achieve our shared objectives of restoring Venezuelan democracy, combating the kleptocracy of the Maduro regime, and responding to the humanitarian crisis caused by Maduro’s economic policy.

 

Steven Mnuchin

Secretary, U.S. Treasury

Line to Launch Bibox Exchange in Singapore

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem
16 July 2018   140

One of the most popular messengers in Asia Line has launched a Bitbox exchange in Singapore. Trading on the platform started this morning and is limited to pairs with crypto-currencies, Cryptovest reports.

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem.

BITBOX is only for trading cryptocurrencies (Digital Tokens). Fiat currencies (USD, KRW, etc.) cannot be exchanged on BITBOX.
 

Bitbox Website

Bitbox charges a 0.1% commission and supports 15 languages, including English, Korean, Chinese, Spanish, French and German. In Russia, the US, Japan and some other countries, the exchange is not available.

At the beginning of the year, Line Group applied for a license to the Japan Financial Services Agency, but the process dragged on because of tightening of the regulator's requirements in the light Coincheck exchange hack. All crypto exchange, wishing to provide services in the Japanese market, are required to obtain permission from the local regulator.

Currently, Line is also in the process of obtaining a license in the US. The company decided to open its first trading platform for crypto-currencies in Singapore, as this city-state adheres to a progressive approach to the regulation of the digital currency sphere.

With cryptocurrency, we are going to take our challenge in financial services global.
 

Takeshi Idezawa

CEO, Line

In May, Line Group denied rumors that it intends to release its own token and distribute it through the ICO. Every month Line is used by about 200 million people. The messenger is extremely popular in Japan, South Korea and Thailand.