Posted on 03-30-2020.
U.S. authorities have indicted Venezuelan President Nicolas Maduro for involvement in drug trafficking. Allegedly, the drug cartel led by Maduro used cryptocurrencies for money laundering purposes. What’s happening and what does it mean in the grand scheme of things? We have turned to Gordon Einstein, the founding partner at CryptoLaw Partners for insight.
“Any politicians doing anything right now are either taking advantage of people not looking or trying to get them to look elsewhere. It could just be what it looks like. It could be that we don’t like Venezuela and we’re trying to increase pressure on them. Maybe it’s an attempt to distract from coronavirus? But I don’t think anything is going to distract from coronavirus, barring a war,” says Gordon Einstein.
“No. There may be an element of defying U.S. power. Since the U.S. can’t really take on Russia or China, it likes making example of smaller countries. But Venezuela is not that small. We’re not going to invade Venezuela like we did Panama. U.S. is not a part of the ICC (international criminal court), we can’t bring a case in ICC. I think it makes for seizing of assets, it makes for sanctions. It’s mostly to increase pressure. “Venezuela, or at least individuals involved with Venezuela, is on the OFAC list, meaning they can’t conduct business with U.S. banks. This may widen that net and make doing business with these people more of a criminal law danger than a regulatory danger,” suggests Gordon Einstein.
“Neither. The pressure on the U.S. to invade a country and take its oil, if that pressure ever existed, is gone because of fracking. We’re oil-independent. I’m seeing a broad pull-back from the Middle East. Maybe there’s an attempt to replace the Middle East with Venezuela. To hold on to it the way we couldn’t hold on to the Middle East. But the U.S. doesn’t have it. We’re not going to successfully invade it. I don’t think it’s full invasion time,” says Gordon Einstein.forklog.media shall continue following the developing feud between Donald Trump and Nicolas Maduro. Follow us on Twitter and Facebook and join our Telegram channel to know what’s up with crypto and why it’s important.