Venezuela Prepares Dollarization Bill Amid 356–500% Inflation
- —Ecarri and Hanke prepared a draft law to convert bolivar accounts into dollars
- —Inflation estimates vary: Hanke at 356.4%, El Pais at over 500%, Fortune at about 400%
- —Parliament speaker Jorge Rodriguez called the initiative "false and absurd"
- —Chainalysis: crypto is already used for transfers and access to finance in Venezuela
Why it matters: Official dollarization could compete with USDT in the country, but for now it is only a private draft with no legal status.
Source: TokenPost