💰 The buying and selling of dollars in Venezuela

OK, is this getting out of control?

I will give an explanation so that everyone understands the problem. In Venezuela, the buying and selling of foreign currencies is regulated by the government, which determines its reference price through the Central Bank of Venezuela (BCV) for banks, exchange houses, and any relevant financial institution.

Over the years, the BCV has been unable to meet the demand for foreign currencies, leading to the emergence of a parallel market that seeks to meet this demand, but at a higher buying/selling price than the official market, which is that of the BCV.

After the arrival of stablecoins, Venezuelans were able to meet their foreign currency needs (mainly dollars) through the buying/selling of USDT, which started using the exchange rate of the parallel market that exists in Venezuela as a reference. However, a few months ago, there was an attempt to "eliminate" the parallel market by preventing people from knowing the rate and making its use illegal.

Now there is no concrete reference for the price in the parallel market, causing the price of USDT to rise uncontrollably in the P2P market of Venezuela. Moreover, more and more people are using this alternative, increasing the demand and also the number of people trading in the P2P market with $USDT .

Curious to know how the use of stablecoins can impact a country's economy?