The U.S. Treasury Department is concerned
about Venezuela’s new “petro” cryptocurrency and is warning investors to steer
clear or face unspecified consequences. The U.S. Treasury said Tuesday that
Venezuela’s petro could put U.S. citizens at “legal risk” because investing in
the cryptocurrency potentially conflicts with U.S. sanctions against the South
American country, according to a Reuters report. “Available information
indicates that, once issued, the petro digital currency would appear to be an
extension of credit to the Venezuelan government,” the Treasury department said
in a statement. More…
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