CARACAS (Reuters) — Venezuela’s opposition-run parliament on Tuesday outlawed a “petro” cryptocurrency promoted by socialist President Nicolas Maduro, calling it an effort to illegally mortgage the cash-strapped country’s oil reserves.
Venezuelan President Nicolas Maduro wants his own version of Bitcoin, announcing Sunday that his socialist government will create a cryptocurrency.
President Donald Trump on Friday signed an executive order to impose new financial sanctions on the Venezuelan government, which his administration considers a “dictatorship.”
The Venezuelan foreign minister traveled to Washington and met with a top State Department official in late July, one week before President Nicolas Maduro pressed ahead with an election that dismantled the country’s democracy and cemented his leadership.
The son of Venezuelan President Nicolás Maduro has threatened to take over the White House with rifles.
The Venezuelan bolivar has suffered from hyperinflation under the regime of President Nicolas Maduro, and the currency’s value has now sunk below that of the video game currency in “World of Warcraft.”
WASHINGTON (Reuters) – The U.S. government will designate Venezuelan President Nicolas Maduro on Monday for sanctions for undermining democracy, in response to Sunday’s election of a legislative superbody that Washington denounced as a “sham” vote, several sources said.
Venezuelan President Nicolas Maduro on Monday celebrated the election of a new legislative superbody that is expected to give the ruling Socialist Party sweeping powers and mocked U.S. criticism that the vote was an affront to democracy.
The Victims of Communism Memorial Foundation is asking major news networks to bring attention to the violent tactics being used by the Socialist regime in Venezuela.