Given the financial restrictions imposed on Venezuela, the country has explored alternative avenues to operate outside the conventional banking system. One of these options would be the use of USDT, the stablecoin pegged to the US dollar. Although there is no official confirmation, certain reports suggest that the Central Bank of Venezuela (BCV) may be turning to this cryptocurrency to manage funds, particularly in transactions related to the oil sector.

However, this strategy carries a significant risk: the issuing company of USDT has the authority to **restrict or suspend access to funds** if required by agencies such as the Office of Foreign Assets Control (OFAC) of the United States. This is because USDT, despite operating on blockchain networks like Ethereum or Tron, **is not a decentralized asset**. The issuing company can directly intervene in the smart contracts and limit the use of certain wallets.

It is relevant to mention that, until October 2025, more than **2.9 billion dollars** in USDT had been immobilized due to alleged illegal activities or by order of government authorities. Furthermore, it is noted that in 2023, more than 160 digital addresses linked to this stablecoin were blocked.

Cryptocurrency experts like Daniel Arraez and BTC Andres point out that **holding the private keys of a USDT wallet does not guarantee absolute control**, as the issuing company can intervene without needing direct access. This situation poses a dilemma for Venezuela: **to depend on an asset controlled by an entity subject to the legislation of the country that imposes the sanctions**.

On the other hand, the transparency of the issuing company of USDT is questioned, as it has not presented comprehensive public audits demonstrating that all USDT are backed by real dollars in its reserves.

While some analysts believe that the BCV lacks the necessary infrastructure to officially use USDT, it's possible that officials or intermediaries are employing it unofficially. In such a case, the risk would fall on individuals, not directly on the Venezuelan state.

It is worth noting that **the adoption of USDT among Venezuelan citizens and businesses has experienced exponential growth**. With an accumulated inflation of 85% in 2024, numerous Venezuelans use it as a store of value and means of payment. In instant messaging groups, bolívares are traded for USDT at rates very close to the official dollar. Even some oil companies have opted to pay salaries in this digital coin due to the shortage of traditional currencies.

Economist Asdrúbal Oliveros describes this phenomenon as a radical transformation of the Venezuelan financial ecosystem. However, the article concludes that while USDT offers practical solutions in a crisis context, **its centralized nature represents a strategic risk**. As a user expressed on social media: "It's like trusting the keys to your home to a stranger and hoping they won't change the lock."