Taking Additional Steps to Address the Situation in Venezuela

What it means

This order prohibits U.S. citizens and entities from engaging with Venezuela's government-issued cryptocurrency. The ban specifically targets digital currencies launched after January 9, 2018, when Venezuela attempted to circumvent previous U.S. sanctions by creating its own digital token.

Expected impact

• Prevents Venezuela's government from using cryptocurrency to evade existing U.S. sanctions
• Strengthens U.S. economic pressure on the Maduro regime
• Protects U.S. citizens and businesses from involvement with potentially unstable or illegitimate Venezuelan digital assets
• Demonstrates U.S. support for Venezuela's democratically-elected National Assembly, which denounced the cryptocurrency as unlawful
• May influence other countries to implement similar restrictions on Venezuelan digital currencies