United States Treasury on Petro investments: don’t forget that Venezuela is under sanctions

As recently noted by Bitnewstoday’s source in Venezuela, the outside investments in the new cryptocurrency called Petro, state-backed and debatably oil-backed, will be hampered by the United States government. And he was absolutely right, as shortly after, the United States Treasury reminded everyone that the regime of Nicolas Maduro is under sanctions.

The Treasury does not consider the engagement with the state-backed cryptocurrency of Venezuela any different to, say, regular government bonds. It warned the American investors that investing in this token is not worth it.

The government of Venezuela is extremely optimistic about this cryptocoin. Reportedly, Mr. Maduro even said it can “can take on Superman”. Meanwhile, some other governments not willing to accept Bitcoin as a legal means of payment might be surprised with this carelessness of the state leader. Introducing a new currency as a means of payment when the bolivar continues to fall down might not be a prudent decision. One hundred million tokens are planned for release, as reported by the cryptocurrency outlets, and the state exchange platform will be launched next month.