Bitfinex Denies Listing Venezuela’s Petro Token Anytime Soon

Bitfinex, the world’s biggest Bitcoin exchange by trading ‎volume, on Tuesday said it would not be updating its list of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term on offer to add Venezuela’s newly released cryptocurrency, the petro.‎

‎In its blog post explaining the decision, Bitfinex‎ pointed to United States President Donald Trump’s executive order which prohibits US citizens from engaging in ‎transactions using the oil-backed digital currency.

Bitfinex‎ explained that as of the date of its statement, it had no “plans to include the PTR or similar tokens in the Bitfinex ‎trading platform.”

Bitfinex said that it would always consider elements such as Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and security when ‎evaluating possible inclusions. The popular crypto exchange has also barred its contractors and employees from buying, selling, trading, and transacting in any way with the PTR, effective immediately.

“‎This restriction extends to all customers of the platform, ‎including US persons, and to all activities on Bitfinex, including deposits, ‎financing, trading, and withdrawals," it further stated.

In spite of the attention-grabbing headlines, Venezuela’s ‎own cryptocurrency hit another snag last week, as ‎US authorities once more sounded the bell ‎to remind American investors about the sanctions that the US ‎maintain on the South American country.‎

The decision bars all people and companies subject to US jurisdiction from touching the newly-issued ‎virtual coin, ‎since it constitutes, in essence, a government debt ‎issuance.‎ Trump authorized the US Treasury ‎Department to issue any necessary regulations to enforce his order.‎

In the meantime, some analysts argue the vast majority ‎of frenzy surrounding PTR is either a scam or far too ambitious for ‎its own good.

Earlier in December, the CFTC ordered Bitfinex to ‎provide more information about Tether, ‎which is a token ‎backed by US dollar deposits, with each ‎token always ‎worth one dollar, as both Bitfinex and Tether share the ‎same CEO, ‎Jan Ludovicus van der Velde.‎