PANews January 11 News, according to The Wall Street Journal, Tether has played a certain role in enabling Venezuela’s Maduro to become the world’s leading stablecoin. Tether is an important tool for Venezuela’s state oil company (Petróleos de Venezuela, abbreviated PdVSA) to evade sanctions, used as a settlement currency for oil transactions, and also provides an economic lifeline for Venezuelans suffering from the collapse of their national currency, the bolívar.
A Tether spokesperson responded, stating 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 requests.
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