Amid the sanctions imposed by the United States, Venezuela has sought alternatives to operate outside the traditional financial system. One of them would be the use of USDT (Tether), a stable cryptocurrency linked to the dollar. Although there is no official confirmation, some reports suggest that the Central Bank of Venezuela (BCV) may be using this stablecoin to move funds, especially in operations related to oil.
However, this strategy presents a significant risk: Tether Limited, the company that issues USDT, has the ability to block or freeze funds if requested by authorities such as the Office of Foreign Assets Control (OFAC) of the U.S. This is because USDT, although it operates on networks like Ethereum or Tron, is not decentralized. The company can directly intervene in smart contracts and restrict access to certain wallets.