The US President thinks that not all cryptocurrencies are equally useful. Donald Trump argued against Venezuela’s digital money El Petro. Early this year Washington warned all investors who planned to put their money in the Venezuelan cryptocurrency about risks of facing persecution because of the sanctions imposed against Karakas. Eventually, the warning turned into real actions. Trump’s negative attitude towards El Petro was emphasized by a ban on financial operations with this cryptocurrency. The White House Administration introduced amendments to the new package of sanctions against Venezuela, and one of the points of this package described the use of this digital money.
Remarkably, El Petro is a pioneer in many aspects. Thus, it is the first cryptocurrency issued by a government. Besides, it is the first state cryptocurrency that was put under sanctions. Some experts think that such measures are a signal for other countries that are under US sanctions including Russia to refrain from issuing their own cryptocurrencies. By the way, the Venezuelan El Petro was developed in association with the Russian Zeus.
