Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»Tether criticizes the UN report for overlooking USDT traceability and law enforcement cooperation.
ADOPTION NEWS

Tether criticizes the UN report for overlooking USDT traceability and law enforcement cooperation.

By Crypto FlexsJanuary 17, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Tether criticizes the UN report for overlooking USDT traceability and law enforcement cooperation.
Share
Facebook Twitter LinkedIn Pinterest Email

USDT stablecoin issuer Tether has publicly disputed a recent United Nations report that highlighted allegations that the token was involved in illicit activities, particularly in East and Southeast Asia. It says,

We are disappointed by the UN’s assessment that singles out USDT, highlighting its involvement in illicit activities and ignoring its role in helping developing countries in emerging markets. They are completely ignored by the global financial community simply because it would not be in their interest to serve these communities.

The UN report titled “Casinos, Money Laundering, Underground Banking and Transnational Organized Crime in Southeast Asia: A Hidden, Accelerating Threat” specifically pointed to USDT’s popularity among illegal online gambling platforms and its role in regional cyber fraud activities. . Due to stability and low transaction fees​​​​.

In a strong defense, Tether criticized the UN’s analysis for ignoring the traceability of USDT tokens and its history of cooperation with law enforcement agencies globally. The company argued that the UN report ignored USDT’s positive impact on developing countries in emerging markets, which are often overlooked by the global financial community due to their low profitability. Tether emphasized its commitment to cooperation in anti-financial crime efforts, highlighting the recent freeze of more than $300 million USDT linked to illicit activities, including $225 million in November 2023 linked to a Southeast Asian human trafficking ring.​​​​​

Tether CEO Paolo Ardoino responded to the UN’s assessment, saying the report failed to acknowledge USDT’s positive impact on developing countries in emerging markets. Ardoino highlighted Tether’s cooperation with law enforcement and other stakeholders, including the United Nations. Despite these claims, Tether has argued that USDT transactions are traceable on the blockchain, making it an unrealistic choice for illicit activities. The company aims to dispel concerns about the anonymity of USDT transactions by emphasizing the transparency and accountability that blockchain technology enables.​​​

Stablecoin issuers have further emphasized their commitment to protecting their communities by implementing the following security measures: chain analysis Develop secondary market monitoring tools. Tether urged the United Nations to recognize these industry-leading security measures and record of cooperation with law enforcement.

As the UN report gained attention, concerns were raised about Tether’s reputation and its potential impact on the broader cryptocurrency market. As regulatory scrutiny of the cryptocurrency industry continues to increase, investors and industry participants are closely monitoring these developments. Tether’s response reflects a broader industry trend in which cryptocurrency companies are actively working with regulators and law enforcement to address concerns related to illegal activity.

In conclusion, Tether remains steadfast in its commitment to address the allegations raised in the UN report. The company’s response highlights USDT’s positive contribution to emerging markets and the importance of considering transaction traceability on blockchains. As the cryptocurrency industry navigates increasing regulatory challenges, Tether’s proactive approach to collaboration and transparency can set a precedent for responsible and accountable practices within the sector.

Image source: Shutterstock

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

It flashes again in July

July 6, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin Breaks Through $110,000, Cloud Mining DEAL Mining Earns $7,960 A Day

July 10, 2025

Trump’s pressure on the Fed pushes 15B to ETF, ‘under positioning’ Bitcoin Bull ‘

July 10, 2025

Why Ether can increase to 3K this week: The main reason is explained.

July 10, 2025

NovaEx Launches With A Security-First Crypto Trading Platform Offering Deep Liquidity And Institutional-Grade Infrastructure

July 10, 2025

The PBK Miner uses XRP mining to start a stable and efficient income method to easily earn $ 18,000 a day.

July 10, 2025

Status Unveils First Gasless L2 On Linea With 100% Community Yield Allocation Mechanism

July 9, 2025

Stable for digital recovery and inheritance

July 9, 2025

Ushering In A New Era For Bitcoin DeFi

July 9, 2025

MultiBank Group Announces Early Access Waitlist For Pioneering $MBG Token

July 9, 2025

NEXBRIDGE And NEXPLACE Raise $8M Series A To Launch Integrated Bitcoin Capital Markets Ecosystem

July 9, 2025

Bybit Unveils Bold New Brand Identity With #IMakeIt Campaign — Ushering In A New Era For 70M+ Global Users

July 9, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin Breaks Through $110,000, Cloud Mining DEAL Mining Earns $7,960 A Day

July 10, 2025

Trump’s pressure on the Fed pushes 15B to ETF, ‘under positioning’ Bitcoin Bull ‘

July 10, 2025

Why Ether can increase to 3K this week: The main reason is explained.

July 10, 2025
Most Popular

Could BEAM prices hit new all-time highs?

January 17, 2024

GAMEE Secures Investment from TON Ventures to Strengthen Web3 Integration

August 17, 2024

Crypto bull market expected to return next week, predicts Arthur Hayes

April 26, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.