Tether, a significant player in the crypto industry, reacts to a UN report accusing USDT of illicit involvement. Despite disappointment, Tether highlights its positive impact on emerging markets and emphasizes collaboration with law enforcement. The company urges a broader discussion on blockchain’s role in combating financial crime.
Tether, a key player in the crypto space, faces criticism following a UN report linking USDT to illicit activities. Despite disappointment, Tether defends its stance, citing collaboration with global law enforcement, freezing over $300 million in suspicious funds, and surpassing traditional banking in monitoring. The UNODC report specifically targets USDT in Southeast Asia, emphasizing its use in money laundering. Tether calls for a broader UN dialogue on blockchain’s potential in fighting financial crimes and offers collaboration.