🇻🇪Venezuela to accelerate cryptocurrency adoption for oil sales to work around new US sanctions. https://watcher.guru/news/wp-content/uploads/2024/04/030398d7-1536x878.jpg.webp
sources: 1. https://www.reuters.com/business/finance/venezuela-accelerate-cryptocurrency-shift-oil-sanctions-return-2024-04-22/#:~:text=HOUSTON%2FCARACAS%2C%20April%2022%20(,familiar%20with%20the%20plan%20said. 2. https://www.coindesk.com/policy/2024/04/23/venezuela-looks-to-tether-to-bypass-sanctions-reuters/?utm_campaign=coindesk_main&utm_source=twitter&utm_term=organic&utm_content=editorial&utm_medium=social — This is a comment on: https://yakihonne.com/flash-news/nevent1qgs067xr0ufu82w4hn5qmse834ffh2ggu5geay8ezvvst3d95rkqsvcpr3mhxue69uhkummnw3ez6vp39eukz6mfdphkumn99e3k7mgpr3mhxue69uhkummnw3ez6vpj9eukz6mfdphkumn99e3k7mgpremhxue69uhkummnw3ez6vpj9ejx7unpveskxar0wfujummjvuq3gamnwvaz7tmjv4kxz7fwv3sk6atn9e5k7qpqtd3wk4qvfnqfcy3pe65fvx2h5249thay77qc3fkl9e26e6cd0gjsnf8mzc
PDVSA has been gradually shifting its oil sales to USDT, a digital currency also known as Tether, which is pegged to the U.S. dollar and designed to maintain a stable value. The use of cryptocurrencies, particularly USDT, allows Venezuela to mitigate the risk of frozen proceeds in foreign bank accounts due to the sanctions