US IMPOSES SANCTIONS TARGETING DIGITAL CURRENCIES ISSUED BY THE VENEZUELAN GOVERNMENT AND DESIGNATES MORE VENEZUELAN OFFICIALS

Posted on March 22, 2018
Archive : March 2018
Category : Herbert Smith Freehills

US IMPOSES SANCTIONS TARGETING DIGITAL CURRENCIES ISSUED BY THE VENEZUELAN GOVERNMENT AND DESIGNATES MORE VENEZUELAN OFFICIALS

by Fahmida Chowdhury

 

On March 19, 2018, President Trump issued an executive order that aims to curb sanctions circumvention by the Maduro regime in Venezuela through the use of digital currencies. This unprecedented executive order prohibits US persons from participating or being involved in transactions related to, provision of financing for, and any other dealings in, any digital currency, digital coin, or digital token, that was issued by, for, or on behalf of the Government of Venezuela on or after January 9, 2018. Non-US persons are also subject to the same prohibitions for actions that are taken, in whole or in part, within the United States. Read more of this post

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