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News Explorer — Venezuelan Oil Company Looks to Tether Bypass US Sanctions Following Unsuccessful Crypto Adoption in 2018: Reuters

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Apr 23, 4:54 am
Coindesk

Venezuelan Oil Company Looks to Tether Bypass US Sanctions Following Unsuccessful Crypto Adoption in 2018: Reuters

Venezuela's state-owned oil company, PDVSA, is considering using Tether (USDT) to evade new US sanctions. PDVSA aims to rely on USDT as a safeguard against frozen foreign bank accounts. Tether, the largest stablecoin pegged to the US dollar, is being explored as an alternative. However, Venezuela's previous attempt to adopt cryptocurrency in 2018 was unsuccessful.

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