RATE Group | Venezuelan Government Accused of Using Bitcoin to Bypass US Sanctions
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Venezuelan Government Accused of Using Bitcoin to Bypass US Sanctions

25 Jul Venezuelan Government Accused of Using Bitcoin to Bypass US Sanctions

Posted at 20:40h in Bitcoin News by

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Nicolás Maduro and the United Socialist Party of Venezuela have been accused of circumventing financial blockades imposed by the U.S. government. According to local reports, Maduro’s regime evades sanctions with cryptocurrency alongside an airline application called Jetman Pay. Allegedly, Jetman Pay collects airline taxes from travelers who purchase tickets from Maiquetía International Airport and the Venezuelan government agency Sunacrip converts the tax money into BTC and sends the funds to regime accounts in Russia, China, and Bulgaria.

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The state of the Venezuelan economy and political system has been in disarray and the whole world has been watching the events unfold. The country’s legal tender, the sovereign bolivar, has suffered from massive hyperinflation and the Venezuelan…

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