Venezuela Looks to Tether to Bypass Sanctions: Reuters

Venezuela's state-owned oil company, PDVSA, is looking to Tether (USDT) as a means to , . Reuters reported that PDVSA is trying to integrate more usage of USDT as a hedge against having foreign bank accounts frozen. Tether is the world's largest dollar-pegged stablecoin. Tether did not respond to a request for comment by CoinDesk by press time. Reuters reported that PDVSA uses intermediaries when trading crypto in order to obfuscate the on-chain trail. Venezuela launched its first experiment with crypto in 2018 as a way to bypass the dollar,...