Venezuela Turns To Crypto For Oil Sales To Evade Fresh Round Of U.S. Sanctions

Venezuela's state-owned oil company is using Tether’s USDT — the industry’s largest dollar-backed stablecoin — to skirt new US sanctions.

Venezuela reportedly turns to USDT for oil export as US sanctions bite

Venezuela’s state-run oil company PDVSA is allegedly set to increase crypto usage in its crude and fuel exports as the U.S. strengthens oil sanctions against the country. Venezuela‘s PDVSA, the world’s fifth largest oil exporter, is turning to stablecoin Tether…

Latin America crypto wave helps offset economic instability

A recent report from Chainalysis illuminates this grassroots crypto adoption across Latin America. Brazil, Argentina, and Mexico have emerged as leaders.

Venezuelan oppositioner highlights crypto’s role amid crisis

A Venezuelan oppositioner Leopoldo Lopez praised crypto as a tool to overcome censorship but also addressed its dependency on corrupted banks. As Venezuela struggles with a humanitarian crisis, crypto has become a vital tool for many Venezuelans seeking to preserve…

Venezuela To Restructure Its Crypto Department

Nicolas Maduro, Venezuela’s president, has decided to restructure and reorient the National Superintendency of Crypto Assets. The decree was issued in March of this year. The reorganization of the crypto asset department will be headed by the new board, led by Anabel Pereira Fernandez, a lawyer who has served as president of the Fondo de […]

Venezuela banks block more than 75 crypto-related accounts

The accounts of consumers with connections to cryptocurrency trading, particularly those connected to peer-to-peer (P2P) transaction activity, have caught the attention of Venezuelan banks.