Bitfinex Will Not Support Petro Following the US Government Ban

The representatives of the Chinese cryptocurrency exchange Bitfinex published an official statement which says that the platform will not support the Petro (PTR) token, backed up by oil and launched by the Venezuelan government in the February of this year.

Bitfinex explained its decision in a blog post on the 27th of March, citing the US ban on all citizens of the country to buy Petro, as well as other similar Venezuelan digital currencies. Also, representatives of the largest cryptocurrency exchanges believe that the coin has “limited usefulness”.

“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”.

The Bitfinex team noted that the restrictions apply to all platform customers, not just US residents. They also apply to all activities on the platform, such as “deposits, financing, trading and withdrawal of funds.” The platform added that all its “contractors and employees” are also prohibited from using the Petro token, regardless of their location.

Subscribe to The Coin Shark news in Telegram: https://t.me/thecoinshark