WSJ: Venezuela Uses Crypto to Evade Sanctions, Tether Says It Will Aid Law Enforcement

BlockBeats News, January 11th, according to The Wall Street Journal report, Venezuelan President Maduro has helped propel Tether to become the world's most important stablecoin. USDT is a key tool for Venezuela's state-owned oil company (Petróleos de Venezuela, known as PdVSA) to evade sanctions, used as the settlement currency for oil transactions, and has also provided an economic lifeline to the Venezuelan people who suffer from their national currency's sharp devaluation.

A Tether spokesperson responded to this, stating that Tether complies with all applicable U.S. and international sanctions regulations, cooperates closely with U.S. authorities including the Office of Foreign Assets Control, and regularly assists law enforcement in freezing addresses associated with illegal activities or sanctions violations upon legitimate requests.