Stablecoins

Venezuela Expedites Cryptocurrency Transition Amid Reinstated Oil Sanctions

April 23, 2024
Amid escalating geopolitical tensions and enduring financial constraints, Venezuela’s state-owned oil company, PDVSA, is eyeing a strategic shift toward using cryptocurrency as a potential workaround to circumvent the latest sanctions imposed by the United States. The move underscores PDVSA’s ongoing struggle to navigate the intricate web of international sanctions that have severely hampered its ability