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Venezuela Cracks Down on FX Watchdogs—Citizens Flee to Stablecoins
Venezuela Cracks Down on FX Watchdogs—Citizens Flee to Stablecoins
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When governments play whack-a-mole with financial transparency, citizens find smarter holes. Venezuela's latest move? Arresting Instagram admins who dared track black-market exchange rates. The people's response? A mass pivot to dollar-pegged crypto—because nothing says 'trust the system' like embracing decentralized alternatives.
Stablecoins cut through hyperinflation like a hot knife through bolívares. No surprise Venezuelans are bypassing capital controls with USDT and DAI while the central bank pretends its fiat monopoly isn't collapsing. Another win for censorship-resistant money—and another embarrassment for legacy finance's iron-fist playbook.
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