US sanctions: Petro is banned | Bitcoin mail 2

US sanctions: Petro is banned | Bitcoin mail

Reading time of the article: 2 record

Senate Bill 1025

Already today, this could happen and Donald Trump could, by presidential decree, implement a bill likely to have a considerable impact on cryptocurrencies. It will be superficial to ban Petro.

Behind her is the Venezuelan cryptocurrency commissioned by President Maduro. Like all other cryptocurrencies, they can be used across national borders without the consent of third parties.

This fact is a thorn in the eye of the United States because
We want to prevent Petro from getting around Venezuela
imposed penalties. For years we tried Maduro from
Summit of the country by paralyzing it economically.


Prohibition affects markets and consumers

Of course, a cryptocurrency is not easy
prohibit. And so it is not surprising that in this often acclaimed context
is. Following with confidence the motto: "So come and try!"

The proposed decision is not directed against the
Existence of Petro, but against commercial relations with her. With the
Implementing the proposal would commit every US citizen to a serious offense,
he wanted to offer goods or services against Petro or even

There would be no transfer with isolated Venezuela, but only the means of payment themselves should be prohibited.

A huge problem

One of the biggest problems is this one
The design simply serves as a template for any decentralized cryptocurrency
can. It does not matter who the current president is, because at the latest
8 years old, he leaves office. The successor could be quite in this regard
decide otherwise.

So, such a ban is still a sword of Damocles, because
if the industry that's built around Bitcoin hesitates, then threatens the
The mother of all crypto-currencies in a fierce struggle for survival
l & # 39; fall. If she could win this, then wait and see.

Until now, this does not seem to be the plan. The G7 wants
Monetary monopoly of the Member States protects and goes against Libra and
There is Bitcoin. But not me total bans, but with the increase
Regulations. If you do not want to welcome them, that's what they are
less bad. Because it allows free spaces that come up
Be the subject of negotiations.

Therefore, in the treatment of politics, a problem is revealed. Bitcoin resists censorship and its use is without authorization. The world with which the network interacts is only partially compatible with this concept.

Source: Forbes