PANews reported on January 11 that, according to the Wall Street Journal, Maduro played a role in making Tether the world's leading stablecoin because it is an PANews reported on January 11 that, according to the Wall Street Journal, Maduro played a role in making Tether the world's leading stablecoin because it is an
Wall Street Journal: Venezuela's oil exports heavily utilize USDT; Tether emphasizes strict adherence to international sanctions.
PANews reported on January 11 that, according to the Wall Street Journal, Maduro played a role in making Tether the world's leading stablecoin because it is an important tool for Venezuela's state-owned oil company (Petróleos de Venezuela, PdVSA) to circumvent sanctions. Tether is used as the settlement currency for oil transactions and provides an economic lifeline for the Venezuelan people suffering from the depreciation of their bolivar.
A Tether spokesperson responded that the company complies with all applicable U.S. and international sanctions regulations, works closely with U.S. authorities, including the Office of Foreign Assets Control, and regularly assists law enforcement in freezing addresses related to illegal activities or sanctions violations upon legitimate request.
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