Loading...
Market
Global oil exporters' reaction to PDVSA's Tether use
5
Resolution / Starting Odds
Adopt similar cryptocurrency strategies • 33%
Maintain current payment methods • 33%
Increase scrutiny or regulations on cryptocurrency use • 33%
Official government statements or major global financial news sources
Story
Venezuela's PDVSA to Use Tether for Oil Sales, Must Complete by May 31
Apr 22, 2024, 09:32 PM
Venezuela's state oil company PDVSA is planning to increase the use of the digital currency Tether (USDT), which is pegged to the U.S. dollar, in its crude and fuel exports in response to the reimposition of U.S. oil sanctions. The shift aims to facilitate transactions and avoid the freezing of revenues from oil sales in foreign bank accounts. This move is part of a broader acceleration of cryptocurrency adoption by the country as sanctions are set to return. PDVSA and its partners are required to complete transactions by May 31 to comply with these sanctions.
View original story
Similar markets
Positive response • 33%
Neutral response • 34%
Negative response • 33%
No other countries adopt • 25%
1-3 countries adopt • 25%
4-6 countries adopt • 25%
More than 6 countries adopt • 25%
Supportive • 33%
Neutral • 34%
Opposed • 33%
Significant increase • 33%
No significant change • 34%
Decrease in revenue • 33%
US leads global pro-crypto policy adoption • 33%
US policy isolated without global following • 33%
Mixed reactions with no clear global consensus • 34%
Implement similar rules • 33%
No change in regulations • 33%
Loosen cryptocurrency regulations • 34%
Decrease in revenue • 33%
No significant change • 34%
Increase in revenue • 33%
Prices drop • 33%
Prices remain stable • 34%
Prices increase • 33%