A U.S. senator who has previously spoken out against Venezuela’s newly-launched cryptocurrency isn’t done with the issue.

Late last month, Senators Bob Menendez (D.-NJ) and Marco Rubio (R.-FL) co-wrote a letter blasting the “petro” and asking the Treasury Department to monitor its progress, as well as offer insight into how the department might work against the token’s use to flout U.S. sanctions.

Menendez further raised the issue during a hearing on Feb. 6 of the Senate Committee on Banking, Housing and Urban Affairs. During that hearing, neither Securities and Exchange Commission chairman Jay Clayton nor Commodity Future Trading Commission chairman J. Christopher Giancarlo would say whether their respective agencies could restrict the petro’s use in avoiding U.S. sanctions.

However, Giancarlo did say the CFTC “would certainly look at” the token if it is used to defraud U.S. customers…….more here