Russia Announces Expansion of Government-Backed Cryptocurrency

Last week, Russian news sources reported that the lower house of the country’s Federal Assembly may pass a resolution to allow the country to further develop cryptocurrency systems. According to Rambler, the Russian media outlet that first announced the news, officials are currently looking to … Read more about Russia Announces Expansion of Government-Backed Cryptocurrency

Trump Issues Executive Order Banning Purchase of Venezuelan Petro

President Trump issued an Executive Order last week prohibiting U.S. citizens from purchasing any digital currencies that benefit the Venezuelan government, such as the Petro. The executive order gives Treasury Secretary Mnuchin the authority to issue any necessary measures to enforce the order. … Read more about Trump Issues Executive Order Banning Purchase of Venezuelan Petro

In Response to Suffering Economy, Venezuela Launches Cryptocurrency

Venezuelan President Nicolás Maduro announced the presale of a cryptocurrency called the petro (PTR), backed by the country's oil assets. The Venezuelan government had announced its plan to launch a digital currency in 2017, and indicated that the launch of the petro was in response to the financial … Read more about In Response to Suffering Economy, Venezuela Launches Cryptocurrency