A U.S. senator who has previously spoken out against Venezuela's newly launched "petro" cryptocurrency isn't done with the issue.
While a lot is still unclear about Venezuela's state-backed "petro" token, what is apparent is that many feel it's potentially harmful for its people.
Venezuela officially has its own cryptocurrency – and its president wants some of the country's state-owned businesses to use it.
Venezuelan finance minister Simon Zerpa Delgado announced on Twitter that he visited Moscow to update Russian officials on Venezuela's petro currency.
Several companies have been so far linked to Venezuela's petro cryptocurrency initiative in the wake of this week's launch.
The South American country's plan to launch its own cryptocurrency has sparked global headlines and a range of commentary on social media.
Venezuelan president Nicolas Maduro claimed Tuesday that a presale for the country's national cryptocurrency netted $735 million on its first day.
Venezuela revealed a new website for its petro token, releasing its technical white paper and telling potential customers how to purchase the coin.
Venezuela's government has reportedly launched the pre-sale of its controversial "petro" cryptocurrency, saying 82.4 million tokens are now available.
If OFAC turns its eye toward cryptocurrencies, it could be only a matter of time before it makes an example of one or more entities to send a message.
The president of Venezuela has said the pre-sale of the country's proposed oil-backed cryptocurrency will launch next month.
U.S. Senators Marco Rubio (R.-Fl) and Robert Menendez (D.-NJ) have denounced Venezuela's planned cryptocurrency in a new letter.
Venezuelan officials have denied claims that the petro token's white paper has been released, calling such claims "false information."
Venezuela's opposition-run congress has declared that a planned new oil-backed cryptocurrency called the petro is illegal.
Venezuelan president Nicolas Maduro has announced a new cryptocurrency called the "petro."