TechFlow news, January 11 — According to the Wall Street Journal, Tether’s rise to becoming the world’s leading stablecoin has been partly influenced by Maduro, as the company has served as a key tool for Venezuela’s state-owned oil company Petróleos de Venezuela (PdVSA) to circumvent sanctions. It has been used as a settlement currency in oil transactions and provided an economic lifeline for Venezuelans suffering from the collapse of their local bolívar currency.
A Tether spokesperson responded 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 linked to illegal activities or sanctions violations upon legitimate requests.
