Venezuela’s IP Office Asks for Fees Paid in Cryptocurrency

Written February 26, 2019

The US Patent and Trademark Office on February 25, 2019, issued a notice concerning a change affecting fees to Venezuela’s intellectual property office. The Venezuelan Ministry of National Commerce sent a notification to the USPTO on February 1, 2019, that patent and trademark fees should be paid in the Venezuelan cryptocurrency “PETRO.”

The United States Government, by Executive Order 13827 (March 19, 2018), expressly prohibits such transactions by U.S. persons, including individuals and companies, relating to any digital currency, digital coin, or digital token issued by, for, or on behalf of the Government of Venezuela on or after January 9, 2018. More information related to Executive Order 13827 can be found at the Venezuela-related sanctions webpage on the US Department of the Treasury’s Office of Foreign Assets Control website.