Cryptocurrency's popularity is increasing day by day and now presidents of those countries who are considered super power taking interest in the cryptocurrency and blockchain. Putin had himself issued a dead line for the regularization of crypotcurrency and now Trump has issued an executive order that will put a ban on buying and trading of Venezuelan cryptocurrency (petro).
The reason for banning the Venezuelan coins is the action taken by the Venezuela's national assembly. Assembly has not been accepted as lawful assembly by the U.S government and they have applied some sanctions which they were going to break by using the digital currency petro.
This should not come as a surprise to the market as Venezuela has been very antagonistic towards the US and its administration for years. This should not been seen as a ban or limitation towards the general cryptocurrency market but instead a continued increase in sanction to Venezuela and its regime that has its population under considerable suffering. In this case, to not do anything is contrary to the US stance regarding Venezuela.
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