USDT, the stablecoin issued by the Tether agency, turned a transactional lifeline for a lot of in a rustic with restricted entry to US {dollars}. Nevertheless, for Raymond Orta Martínez, director of the Venezuelan Institute of Technological Legislation, this mass adoption lacks the authorized security internet essential to guard the widespread citizen.
Though Venezuela already has a authorized framework, such because the Complete Cryptoasset System and the BA VEN-NIF 12 accounting requirements that require firms to register these property, Orta maintains that the non-public nature of Tether introduces dangers that present laws don’t totally cowl.
In contrast to the decentralized nature of bitcoin (BTC), USDT relies upon solely on a non-public directive. And, in an unique interview with CriptoNoticias, Orta warns that this distinction is a vital monetary threat. “If the issuing firm faces chapter or worldwide regulatory intervention, Venezuelan customers might get up with their financial savings blocked,” explains the jurist.
Tether maintains reserves verified by worldwide accounting agency BDO, which, as of December 31, 2025, quantity to greater than $192.8 billion (with a $6.3 billion extra or cushion above liabilities), primarily in US Treasury bonds.
The corporate explicitly prohibits the Authorities of Venezuela as a direct consumer in its phrases of service and US OFAC sanctions compliance insurance policies. The ban doesn’t apply to personal residents, however Tether has frozen wallets linked to sanctions evasion previously.
A few of those that use USDT in Venezuela level out that the stablecoin facilitates quick and low-cost transactions. This made it the primary software for each day funds, imports and worth preservation within the nation, the place annual inflation reached 549% in 2025, in line with estimates by the Worldwide Financial Fund (IMF). For that very same interval, Chainalysis reported that the nation recorded a quantity of $44.6 billion in cryptocurrency transactions in a single 12 months.
Sunacrip renews licenses to exchanges, however it’s not sufficient
The Nationwide Superintendency of Crypto Belongings (Sunacrip) has maintained its regulatory pulse by renewing licenses to native exchanges till 2026. This regulatory continuity occurred even if Sunacrip underwent a deep intervention in March 2023, after the outbreak of the PDVSA-Cripto scandal, which concerned multimillion-dollar diversions of oil funds via crypto property and led to mass arrests, non permanent suspension of operations and a whole restructuring of the establishment.
Orta emphasizes that authorizing a platform to function just isn’t equal to regulating the asset that circulates on it. “Authorization to an trade doesn’t make USDT authorized tender,” he factors out. For the specialist, The State should transfer in the direction of a scheme for traceability and management of the origin of funds that forestalls the legitimation of capital, with out suffocating the liberty of use that has allowed the economic system of the widespread citizen to outlive excessive inflation.
The Venezuelan had no alternative, he was pushed to undertake USDT, which was an asset that appeared in time to cowl these wants. However we can’t overlook that there have additionally been problems with corruption, cash laundering and that’s the reason it have to be regulated. It’s not attainable, and I say this as a result of I’ve seen instances which can be in judicial proceedings, the place an organization says that it had 500 thousand USDT. And one wonders, oh effectively, however the place did you get that from? What’s the origin of these funds? It have to be taken under consideration that when speaking about crypto property, firms can function legally amongst themselves, however they will additionally function amongst organized crime, in whose tentacles there’s additionally cash laundering.
Raymond Orta.
The specialist particulars that the trade of USDT for bolivars or items doesn’t represent a proper trade operation, however moderately an trade of property (much like exchanging one good for one more). It doesn’t generate speedy taxes for holding or trade in line with present authorized ideas, however warns that income made (sale) might be taxed. Recommends accounting, tax and traceability requirements for transactions between Venezuelansfirms or people, together with audits and management of the origin of funds to forestall cash laundering.
There have to be a steadiness between freedom of use and prevention of abuse
Venezuela stays within the highest positions of cryptocurrency adoption within the area, pushed by casual dollarization that discovered its most effective infrastructure in stablecoins. Studies from CriptoNoticias and native analysts affirm that USDT It’s the popular software for imports and worth preservation in opposition to worldwide banking restrictions.
It’s not about demonizing USDT as a crypto asset, however there have to be regulation, each on the trade stage and on the accounting stage so that there’s a story to know why folks have it and use it. Cash laundering mechanisms should exist to reduce the dangers that cryptoassets can be utilized in crimes, simply as exists with money.
Raymond Orta.
“There have to be regulation of varied varieties, each to just accept it as a method of cost or to legalize it in follow,” mentioned Orta. It proposes finding out traceability, particular accounting and tax guidelines for USDT, differentiating it from bitcoin (handled as a commodity in a number of nations). Warns of dangers if any entity points currencies with out managementand emphasizes steadiness between freedom of use and prevention of abuses akin to laundering or evasion.
There needs to be efficient planning primarily based on what our actuality is so that there’s market freedom and there’s additionally management to make sure that this doesn’t develop into a tax haven for cryptocriminals. There needs to be a steadiness between freedom, which is what the unique proposal of cryptocurrencies was, and management to forestall them from turning into several types of crimes via them. Due to this fact, a steadiness have to be sought via management that doesn’t choke the person and that enables them to get pleasure from the advantages of crypto property, each for his or her funding and for the safety of their property.
Raymond Orta.
In the meantime, Venezuela maintains one of many highest cryptocurrency adoption charges in Latin America, pushed by casual dollarization and restrictions on entry to conventional currencies.
