Maduro Ran a Narco-Terrorist State in Venezuela – Did He Use Crypto Too?
Nicolás Maduro faces US narco-terrorism charges, raising questions about cryptocurrency's role in his alleged illicit state operations.Summary
Venezuelan President Nicolás Maduro pleaded not guilty in a New York court to narco-terrorism charges following his capture. Ari Redbord of TRM Labs confirmed that US courts have jurisdiction over defendants brought onto US soil, citing the Ker-Frisbie doctrine, regardless of how they were transferred.
The indictment details Maduro and senior officials maintaining ties with drug trafficking networks, allegedly abusing official authority to allow the use of Venezuelan airspace and routes for drug trade.
Regarding cryptocurrency, Redbord stated there is no evidence Maduro's inner circle used crypto for their alleged operations. However, crypto is significant in Venezuela as a lifeline for citizens due to hyperinflation and a broken banking system, ranking the country 11th globally in adoption. The regime previously attempted to circumvent sanctions by launching the Petro, a state-backed cryptocurrency, which ultimately failed commercially.
(Source：BeInCrypto)