Maduro Uses Bitcoin To Avoid U.S. Sanctions

The Venezuelan government headed by President Nicolás Maduro has been facing American sanctions as part of their plan to to evade economic sanctions, they are turing to leveraging tax revenue and cryptocurrencies. Maduro and his associates were using a digital wallet app to turn tax revenue from domestic airports into bitcoin and other cryptocurrencies that were then transferred to exchanges in Hong Kong, Hungary, Russia and China.

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