TechFlow news: Tether stated it will freeze addresses associated with sanctioned entities, following reports that Venezuela's state-owned oil company is using stablecoins to circumvent sanctions.
According to an exclusive Reuters report, Venezuela’s state-owned oil company PDVSA has been leveraging cryptocurrency to facilitate crude oil and fuel exports amid renewed U.S. oil sanctions. The report indicates that, due to the new sanctions taking effect, PDVSA has been shifting its oil sales to Tether (USDT) to avoid having funds frozen in foreign bank accounts.
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