Hong Kong-based cryptocurrency exchange Bitfinex issued a public statementtoday, March 27, stating that the platform is not going to support the oil-backed Petro (PTR) token, launched by the government of Venezuela this February.

In its blog post on March 27, Bitfinex, the world’s number four crypto exchange by 24-hour trade volume, explained their decision citing the fact that the US had recently banned all US citizens from purchasing Petro, as well as other similar Venezuelan digital currencies clients. They also relate to all activities on the platform, such as “deposits, financing, trading, and withdrawals.” The platform added that all of its “contractors and employees”, regardless of location, are also prohibited from transacting in the Petro.

Today, March 27, Cointelegraph reported that a Russian government official told reporters the Petro coin had not been offered to pay off Venezuela’s debt to Russia.

ExposedCrypto.com

Photo via Getty Images

Source: Cointelegraph

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