Venezuela’s Crypto Ecosystem Continues To Evolve Amid Global Tension : Analysis
TRM Labs noted that on December 10, the United States had reportedly seized a large oil tanker off Venezuela’s coast for alleged sanctions evasion, escalating pressure on Nicolás Maduro’s regime and highlighting why, amid rising illicit activity, it is vital to understand the nation’s economic collapse, authoritarian regime, (allegedly) narcotics-linked financial networks, and the role of crypto in legitimate use as well as sanctions evasion.
TRM Labs pointed out in their update that in the absence of proper domestic banking channels, crypto has become embedded in Venezuela’s dollarized economy as “an everyday mechanism for storing value and moving money.”
TRM Labs further noted that widespread stablecoin usage —…
