Cryptocurrency is increasingly integral to Venezuela's economy as the nation grapples with persistent sanctions and economic challenges. According to a TRM Labs report, stablecoins such as Tether have become essential for daily transactions, reflecting a shift towards digital currencies. Peer-to-peer crypto platforms are also prevalent, with one platform reporting that 38% of its traffic originates from Venezuelan IP addresses. The national crypto regulator, SUNACRIP, has seen its influence wane due to corruption issues, while the Petro stablecoin, introduced in 2018, was discontinued in 2024. Amid rising U.S.-Venezuela tensions, highlighted by a recent oil tanker seizure, cryptocurrencies offer a financial lifeline but also pose risks related to sanctions evasion.