Tether’s role in Venezuela, Iran highlights the duality of stablecoins

Tether, a leading stablecoin, has gained prominence in countries like Venezuela and Iran, where traditional financial systems are unstable. In Venezuela, Tether is used as a means to bypass hyperinflation and access foreign currencies, while in Iran, it facilitates trade amid international sanctions. This duality showcases stablecoins' potential to provide financial stability in crisis-hit economies, yet raises concerns about their role in circumventing regulatory frameworks. Critics argue that the widespread use of Tether could undermine efforts to enforce financial regulations and combat illicit activities. Overall, Tether's impact reflects both the benefits and challenges of adopting stablecoins in volatile markets.

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