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   257

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

Australia joins the crypto-discussions arena with Bitcoin & Blockchain Fair

The inaugural Bitcoin and Blockchain Fair will be presented at the Sydney Showgrounds on May 12-13 with an all-round program about cryptocurrency and blockchain
21 April 2018   26

A high profile event in cryptocurrency and blockchain is coming to Sydney, Australia on May 12-13 – Bitcoin and Blockchain Fair. The conference will provide a platform to interact and discuss on all areas of the cryptocurrency and blockchain technology sectors (fintech, investment, venture capital, regulation, ICO, etc.), current opportunities and perspectives in the form of a Forum and an Exhibition Showcases.

The Exhibition Showcase that will allow to exhibit showcases and engage with crypto services providers, government and fintech startups. Forum is the bulk of the conference and is comprised of 2-day sessions to allow international speakers and industry leaders of the crypto and blockchain sectors a chance to share their expertise. May 12 is focusing on cryptocurrency and ICO engagement; May 13 wil cover blockchain technology overview, case studies, solutions and future trends.

The fair is organized by ABF Business and Principal Sponsor Coinspot. Exhibitors and Speakers include attendees from Asia, Europe and USA together with key Australian high profile crypto & blockchain enterprises. The full agenda of the event can be found here.