U.S. Bans Venezuela’s Petro Cryptocurrency
President Donald Trump announced the ban of Petro, the Venezuelan cryptocurrency. The U.S. Senate Bill 1025, which will essentially enforce an executive order that was signed by Donald Trump in 2018, came into law. It bans U.S. citizens and permanent residents from trading, holding, purchasing, or spending the Venezuelan cryptocurrency, Petro, which is pegged by the oil reserves of the country. Of note, there were 20 pending bills on the Senate floor concerning cryptocurrency and Petro was passed on September 16, 2019, which could now be one of many more to come. It is clear that President Trump believes Petro…