Venezuelan President Uses Crypto to Evade Sanctions

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ODAILY
06-18
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Odaily Odaily News Venezuelan political critics accuse President Nicolás Maduro and his government of increasingly relying on cryptocurrency transactions in an attempt to circumvent international sanctions. The United States recently reimposed gold and oil sanctions because Maduro failed to ensure a fair election agreement in July. Chainalysis' analysis shows that the Venezuelan National Cryptocurrency Asset Supervision and Administration (SUNACRIP) is transferring large amounts of stablecoins, operations that facilitate financial operations even under sanctions.

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