Venezuela Fights US Sanctions Against Petro

The Venezuelan government has filed a complaint against the United States before the World Trade Organization (WTO).

The complaint was published on January 8, but had already been filed last month. The document shows that the United States government is being accused of infringing Venezuela’s rights under the General Agreement on Tariffs and Trade (GATT) and the General Agreement on Trade in Services (GATS).

According to Reuters, the United States have been tightening sanctions against the Venezuelan government in the recent months. This includes banning sales of Venezuelan gold, discriminatory treatment of Venezuela’s debt, and also “targeting senior officials and Maduro’s wife and allies”.

Petro

There is also a reference to Petro, the national cryptocurrency of Venezuela. According to the document, the US has imposed “discriminatory coercive trade-restrictive measures with respect to transactions in Venezuelan digital currency”. The complaint also reads:

Furthermore, in as much as digital currencies originating in the United States are not subject to the same prohibitions as Venezuelan digital currencies, the United States is according less favourable treatment to Venezuelan financial services and service suppliers than to like domestic financial services and service suppliers.

The US restrictions may come as no surprise, especially since Venezuelan president Nicolas Maduro also intends to enforce his own restrictions. Last month, Maduro stated on national television that in 2019 a new program will be put into place, where gradually all Venezuelan oil products will be sold in Petro.

The U.S. hasn’t issued an official response yet. The nation has 60 days to respond to the complaint and if they fail to do so, Venezuela can ask the WTO to decide on the complaint’s merits.

Petro Yet to Be Seen

Despite its announcement in late  2017 and having been officially launched three times , no one has yet been able to use the Petro. Although the Petro is many times referred to as the first nation-backed cryptocurrency, it is yet to produce a working product.

Grayscale Study: 43% of Investors Interested in Bitcoin are Women

  • A study published by crypto investment firm Grayscale shows 43% of investors interested in bitcoin are female.
  • Men and women hold similar perceptions on the potential and future of cryptoassets.

A new study by Grayscale suggests that the industry of bitcoin and crypto may not be as male-dominated as previously believed. 

According to a report published by the crypto investment firm Grayscale, 43% of investors interested in bitcoin are women. The study involved 1,100 U.S.-based participants between the ages of 25 and 64 currently active in personal investing with at least $10,000 in investible assets and a $50,000 household income. 

The survey found that women and men share “similar perceptions” on bitcoin, particularly in the investment age range of 25 - 54. While many of the qualities of bitcoin resonate with both men and women, the study found the two groups invest differently. 

According to the report "women are generally less optimistic about investments and more risk-averse.” Almost identical percentages of men and women (56.4% vs 56.2%) see significant growth opportunities in digital assets, with 49.8% of women and 49.9% of men commenting that bitcoin’s finite supply will drive demand price higher. 

Women also commented that more education on crypto-assets would lead to a greater interest, More women than men indicated that they lack familiarity with Bitcoin (76% vs. 52%) and significantly, an overwhelming majority of female investors (93%) indicated that they could be more open to the asset class if they had more educational resources available to them.

After finding 43 percent of those interested in bitcoin to be female, Grayscale concluded,

Bitcoin conversations tend to focus on a predominantly male investor audience, and yet data indicates women have a healthy interest in Bitcoin as well.

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