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Yemeni citizens use the DeFi agreement to provide themselves with financial services due to U.S. sanctions against Houthi

Internet reports that Yemeni citizens are increasingly using the DeFi protocol to manage their finances as the United States identifies the Houthi armed forces as a terrorist organization and imposes sanctions on them. Blockchain intelligence company TRM Labs pointed out in a report on April 17 that in the past, due to the war, Yemen's Internet infrastructure faced challenges and the people's financial knowledge level was low. These factors led to a relatively low adoption rate of cryptocurrencies; However, there are signs that interest and use of cryptocurrencies is growing for necessity rather than speculative purposes, and for those using cryptocurrencies in Yemen, the DeFi protocol provides them with a degree of financial resilience by bypassing disruptions in local financial services, especially as ongoing conflicts make banks difficult to access or simply impossible to operate. TRM Labs data shows that the DeFi platform accounts for most of Yemen's cryptocurrency-related network traffic, accounting for more than 63%, while globally centralized exchanges account for 18%. Currently, Yemen has no legislation targeting the use of cryptocurrencies;TRM Labs speculates that the intensification of sanctions against Houthi armed forces may be a trigger for the rise in cryptocurrency adoption in Yemen.

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