Taking Additional Steps to Address the Situation in Venezuela
Bans United States Transactions Involving Venezuela's Government Digital Currency
What it does
Agencies must prohibit and enforce bans on U.S. dealings with Venezuelan government-issued digital currency and issue regulations to implement the order.
Real-world impact
- Stops U.S. citizens and businesses from trading or financing Venezuela's state digital currency.
- Allows Treasury to make rules, freeze assets, and enforce penalties.
- Outlaws schemes to evade the ban, including conspiracies.
Topics
Summary
This order prohibits all transactions by United States persons or within the United States involving any digital currency, coin, or token issued by or for the Government of Venezuela on or after January 9, 2018. It also bars actions to evade the ban and outlaws conspiracies to violate it.
The Secretary of the Treasury, in consultation with the Secretary of State, is authorized to issue rules and use emergency economic powers to implement the order, which takes effect March 19, 2018, without prior notice.
Questions, answered
Ask questions about this executive order and its implications. Try:
- “What agencies are affected by this order?”
- “How does this order change existing policy?”
- “What are the practical implications of this order?”