Venezuela has launched its own cryptocurrency based on oil called petro

The US Department of Justice has filed drug trafficking charges against Venezuelan President Nicholas Maduro. Together with 14 other Venezuelan officials, he would have managed a cocaine trafficking network for 20 years. The accusation is that Maduro would have used cryptocurrencies to launder the money obtained.

The Sunacrip administrator, who manages the crypto-Venezuelan project, Joselit Ramirez Camacho, was also indicted in a separate action in the southern district of New York.

“For more than 20 years, Maduro and a number of high-ranking colleagues have been plotting to introduce tons of cocaine into American communities. Today’s announcement is focused on eliminating widespread corruption within the Venezuelan government – a system built and controlled to enrich those at the highest levels of government. The United States will not allow these corrupt Venezuelan officials to use the US banking system to move their illicit income from South America and continue their criminal activity. ”

said US Attorney General William Barr.

Venezuela has launched its own cryptocurrency

The statements do not mention what cryptocurrency was used in the criminal activity. It is worth mentioning that Venezuela has launched its own cryptocurrency based on oil called petro. This project is regulated by Sunacrip, led by Camacho.

In the press release accompanying the indictment, Homeland Security Investigations stated:

“Today’s announcement highlights HSI’s global reach and commitment to aggressively identify and investigate violators of US law, exploit financial systems and hide behind cryptocurrencies to continue their criminal activity. This indictment is a reminder that no one is above the law – not even important political figures and officials. “