Venezuela is accelerating its adoption of cryptocurrency to evade renewed oil sanctions

Venezuela is accelerating its adoption of cryptocurrency to evade renewed oil sanctions

PDVSA, Venezuela's state-run oil company, is accelerating its use of cryptocurrency, particularly Tether (USDT), for its crude and fuel exports in response to renewed U.S. oil sanctions. In response, Tether has announced it will halt transactions to entities sanctioned by OFAC.

Venezuela