Tether representatives responded to UN statements
Tether representatives published a message expressing disappointment with the latest UN report and questioning the use of USDT in criminal activities. The stablecoin issuer advised the organization to better understand how blockchain works and what advantages this technology has.
This position of the organization devalues the role of USDT in helping developing economies, which are completely ignored by global financial markets, the company believes.
Representatives called the monitoring of stable coins unprecedented. This was mainly achieved through cooperation with law enforcement agencies. According to Tether, the level of traceability of stablecoins currently exceeds the systems of traditional banks, which “have served as a receptacle for the laundering of significant amounts of money for decades.”
The company also called on the UN to cooperate as it consistently advocates for transparency and accountability in digital assets.
