CoinVoice latest report, according to The Wall Street Journal, Tether's position as the world's leading stablecoin has benefited from Maduro's role, as Tether has become an important tool for Petróleos de Venezuela (PdVSA) to circumvent sanctions. It is used as a settlement currency for oil transactions and has provided an economic lifeline for Venezuelan citizens suffering from the collapse of their national currency, the bolívar.
A Tether spokesperson responded by stating that the company complies with all applicable US and international sanctions regulations and works closely with US authorities, including the Office of Foreign Assets Control. The company regularly assists law enforcement in freezing addresses related to illegal activities or sanctions violations upon legitimate requests.
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CoinVoice latest report, according to The Wall Street Journal, Tether's position as the world's leading stablecoin has benefited from Maduro's role, as Tether has become an important tool for Petróleos de Venezuela (PdVSA) to circumvent sanctions. It is used as a settlement currency for oil transactions and has provided an economic lifeline for Venezuelan citizens suffering from the collapse of their national currency, the bolívar.
A Tether spokesperson responded by stating that the company complies with all applicable US and international sanctions regulations and works closely with US authorities, including the Office of Foreign Assets Control. The company regularly assists law enforcement in freezing addresses related to illegal activities or sanctions violations upon legitimate requests.