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🇻🇪 | While thousands of Venezuelans turn to USDT to protect ourselves from inflation, I am concerned that the U.S. could freeze the funds of sanctioned entities.
⚠️ More than $2.9 billion has been blocked in wallets due to government requests, including the OFAC. This puts any strategy of the BCV or PDVSA at risk, as their USDT would be at the mercy of a company under U.S. legislation.
Should we continue to trust USDT in Venezuela? 😢 = No, the risk of blocking is real 👏 = Yes, it is our best defense against inflation 👍🏼 = Useful, but with caution
I have seen several interesting comments. Some mention alternatives like USDC, but let's remember that it is also under U.S. control. Others suggest Bitcoin as the only truly decentralized option.
What seems most sensible to me is to use non-custodial wallets, diversify among several stablecoins, and perhaps keep some in BTC for greater autonomy.
The political situation complicates everything. If you have ties to the regime, the risk is greater. For the average Venezuelan, it is probably safe, but it's always good to have a plan B.
Legal notice: These are third-party opinions, not financial advice.