GI-TOC: USDT used in Venezuela's illicit gold trade

Illegally mined gold from the Amazon is being exchanged for USDT in Venezuela, according to a report from the Global Initiative Against Transnational Organized Crime (GI-TOC). The report states that as the volume of illicit gold flowing into Venezuela increases, cryptocurrency is being used as a new strategy to evade sanctions. GI-TOC explained that given the growing use of crypto in these transactions, legislation aimed at addressing illegal gold mining and trade should also include provisions related to digital assets.