In a gloomy turn of events, Tether, a controversial stablecoin, has introduced USDT as a payment option for social security contributions in the Philippines. This move, facilitated by a partnership with Uquid, will see transactions conducted on the TON blockchain.

This development raises concerns about the transparency and security of such transactions, given Tether's history of legal issues and the inherent volatility of the crypto market. It also underscores the growing influence of cryptocurrencies in traditional financial systems, a trend that could potentially destabilize global economies if not properly regulated.

The move by Tether and Uquid is a clear indication of the need for robust global regulatory frameworks for cryptocurrencies. As the line between traditional finance and digital assets continues to blur, the urgency for comprehensive regulation cannot be overstated.