The UN “completely neglects” developing economies using stablecoins like USDT because servicing them would be “unprofitable” for the agency, Tether argued.
Major stablecoin firm Tether has responded to the United Nations’ report highlighting the alleged involvement of the Tether stablecoin (USDT) in illicit activity.
The Southeast Asia and the Pacific division of the UN Office for Drugs and Crime (UNODC) on Jan. 15 issued a report devoted to issues of the use of cryptocurrencies in illegal activities and underground banking.
Titled “Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia: A Hidden, Accelerating Threat,” the report referred to the USDT stablecoin as one of major vehicles for money laundering in the region. The report specifically referred to the rising popularity of USDT based on the Tron blockchain.
