WSJ: Venezuela Turns to Cryptocurrency to Evade U.S. Sanctions, Tether Responds It Will Work With International Law Enforcement

BlockBeats News, January 11th, according to

, Venezuelan President Maduro has helped propel Tether to become the world's most prominent stablecoin. USDT is an essential tool for Venezuela's national oil company (Petróleos de Venezuela, known as PdVSA) to circumvent sanctions, used as the currency for oil trade settlement, and also providing an economic lifeline to the Venezuelan people who have been suffering from their national currency's sharp depreciation.

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