Us lawmakers are seeking tougher sanctions against Petro

[Paha87]

A bipartisan group of senators in the United States is looking for opportunities to strengthen sanctions against the Venezuelan national cryptocurrency - Petro. The proposed sanctions will extend the Executive order from March to prohibit U.S. residents from providing software to the Venezuelan government.

The bill, promoted by U.S. senators Bob Menendez, Marco Rubio, bill Nelson, John cornin, dick Durbin, David perdu, Ben Cardin, Ted Cruz, Tim Kane, Michael Bennett and Patrick Leahy, in an effort to impose tougher sanctions on cryptocurrency support Venezuela.

The bill, first presented to Congress on September 24, was entitled" Venezuela's humanitarian aid, recovery, and rule of law Act of 2018, " extends to an Executive order signed by President Donald trump in March that imposed sanctions against Venezuela for seeking to circumvent existing economic sanctions through the use of Petro. In addition, it prohibits U.S. residents from "providing software to the Venezuelan government in its transition to using Petro." The bill says:

All transactions related to the provision of financing and other transactions by the United States or in the United States, any digital currencies, digital coins, or digital token, which was released for or on behalf of the government of Venezuela on 9 January 2018 or after that date is prohibited on the date of entry into force of the present order.

"Humanitarian aid" to Venezuelans
The act is described as intended "to provide humanitarian assistance to the Venezuelan people and Venezuelan migrants, to promote a constitutional and democratic solution to the political crisis in Venezuela, to solve the problem of Venezuela's economic recovery, to fight corruption in society, drug trafficking, money laundering and other purposes."

The official public sale of Petro is scheduled for November 5.

Jerry Brito, Executive Director of the Coin Center, said of the sanctions: "although Venezuela's attempt to issue cryptocurrency is new, there is nothing new in the fact that the US restricts financial transactions with authorized countries," adding: "the issue of cryptocurrency will not help Venezuela to avoid sanctions."

Link to the source of information (Russian) - https://altstake.io/news/zakonodateli-ssha-dobivayutsya-bolee-ghestkih-sankciy-protiv-petro