#TRUMP OPENS THE DOORS OF THE DOLLAR TO VENEZUELA
The U.S. is considering lifting sanctions on the Central Bank and unleashing billions
Is this the end of the ‘crypto-refuge’ or a new supercycle for BTC and stablecoins in Latam?
According to Bloomberg, the administration of
#DonaldTrump is considering lifting the sanctions imposed on the Central Bank of Venezuela
#BCV The goal is to unlock the flow of billions of dollars that are currently trapped by compliance controls and allow money generated from oil sales and new trade agreements to reach the distressed Venezuelan economy directly.
This measure would be the next major step in the normalization of relations following the regime change (capture of Maduro in January and the assumption of Delcy Rodríguez as interim president). Funds have already started to be channeled through accounts in Qatar and the U.S., but banks are still holding back some of them due to the current sanctions on BCV.
Why is this CRITICAL for the crypto market?
Venezuela is one of the countries with the highest adoption of cryptocurrencies in the world (
#bitcoin and stablecoins are massively used for remittances, protection against hyperinflation, and evasion of controls).
If the sanctions on BCV are lifted, there will be less need for crypto as a “backdoor”: With more dollars flowing officially, the demand for P2P and stablecoins to circumvent sanctions could decrease.
Opportunity or risk for crypto: Greater official liquidity could attract institutional investors to Venezuelan projects and reduce the “premium” that today results from the scarcity of dollars.
It is a move that could radically change the Venezuelan crypto ecosystem in the coming months. What was once a haven for stablecoins out of necessity could become a more “traditional” market.
#oil $BTC $CL
$ETH