This article was written as part of the course “Latin American Economic Development” offered by Professor Marla Ripoll, Department of Economic, University of Pittsburgh.
The United States Treasury Secretary announced on last March that President Donald
Trump signed an executive order banning all transactions within the United States or by US
citizens that involve Venezuela’s new cryptocurrency. The petro, which was Venezuelan
president Nicolás Maduro’s plan to combat the rising hyperinflation and devaluation of the