The country banking on crypto during ‘economic war’ with US

Venezuela's government is gradually permitting the use of dollar-tied cryptocurrencies for private sector currency exchanges, a dozen sources have revealed, as US restrictions on oil exports continue to deplete available foreign currency. The move comes as American sanctions, which Caracas has characterised as "economic war," severely impede many business transactions. Companies needing to import raw materials are typically forced to convert local bolivars into dollars, traditionally sourced from the oil trade and foreign card transactions, and injected into exchanges by the central bank. However, oil revenue has significantly declined in...