Bitfinex denies Venezuelan El Petro lisitng due to US sanctions

The Kong-based cryptocurrency exchange abides by US sanctions against Venezuela.
Venezuela won't repay Russian debt in its newly minted digital currency.

US sanctions are starting to bite as Bitfinex, Hong Kong-based cryptocurrency exchange platform, refused to add Venezuelan Petro to the list of tradable instruments, citing the US taboo on this digital asset.

Bitfinex sees El Petro as having little utility as it may have been created with the sole purpose to avoid international sanctions against the government of Venezuela, according to the statement published in the platform's blog post.

"We have never had plans to include the PTR or similar tokens in the Bitfinex trading platform. In light of the U.S. sanctions and the other clear sanctions risks of dealing in these products, Bitfinex will not list or transact the PTR or other similar digital tokens. This restriction extends to all customers of the platform, including U.S. persons, and to all activities on Bitfinex, including deposits, financing, trading, and withdrawals," Bifinex explains.

Earlier this month US President Donald Trump issued an executive order that prohibits US citizens from dealing with Petro or any other digital asset or token issued by, for or on behalf of the Venezuelan government.

In the meantime, Russia denied speculations that Venezuela would partially repay its debts to Russia in Petro. The country has never voiced such intentions, according to Konstantin Vyshkovsky, head of the finance ministry’s state debt department.

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