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Venezuela Turns to Tether to Skirt US Oil Sanctions: Reportdecrypt.co/227690/venezuela-turns-to-tether-to-skirt-us-oil-sanctions-report
179 sats \ 2 comments \ @Cje95 23 Apr econ
Something that really blows my mind when it comes to using crypto to skirt sanctions is why on God's Green Earth do these countries, entities, people, etc. use a CENTRALIZED stablecoin like USDT. We have seen them in the past freeze accounts laundering funds and skirting sanctions. This is not a new idea and Tether has shown it is pretty darn good at doing this.
It would be different if they used some sort of privacy coin but using a public blockchain and a centralized stablecoin is just the dumbest thing in the world.
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0 sats \ 1 reply \ @bief57 23 Apr
I was just talking about this topic with my husband today, it is totally incongruous. If you want to evade the last thing you would use would be THETER. I think they must be up to something, the Venezuelan government seems stupid, but they are not, there is a reason they have been in power for 25 years massacring the country and still no one has been able to stop them, they are a narco government, they have many allies, I believe that That news is just a smokescreen, they know very well that they can transact in private ways, which they surely already do but we are not aware of it. For years I no longer take this type of news from my country seriously, it is just a distracting circus.
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0 sats \ 0 replies \ @Cje95 OP 24 Apr
Yeah I agree they are a Narco country and because they keep the armed forces on their side they stay in power. Personally, I see them running into bigger and bigger issues over the coming years because of the huge brain drain that is occurring. I think that is why you have seen them talk about invading their neighbor... they have to distract from the issues at home.
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