Tether (USDT) has recently refuted allegations made by the United Nations regarding the involvement of its USDT stablecoin in illicit activities, such as money laundering and scams. Responding on January 16th, Tether emphasized the role of blockchain technology in crime prevention. Working With The Law Tether readily collaborates with law enforcement entities like the DOJ, FBI, and USSS, highlighting its dedication to combating financial crime. Emphasizing the potential of blockchain technology to facilitate the tracking of illegal activities, Tether asserts that their transparent blockchain network enables close monitoring of transactions. This transparency additionally aids in thwarting illegal transactions of various categories, a challenging task with conventional currency. Tether also pointed out that they recently prevented over $300 million in suspicious transactions. A Hypocritical Stance Rather than criticizing blockchain, Tether urges the UN to recognize its merits in the fight against crime. They advocate for collaborative efforts to comprehend and leverage blockchain effectively. Tether expresses a commitment to using digital currencies responsibly and transparently, inviting the UN to engage in discussions to explore ways of reducing digital asset crimes. This approach aligns with a broader trend in the crypto industry, actively combating financial crime and asserting that blockchain can serve as a tool to prevent crime rather than being its source. Some have even gone as far as to claim that the United Nations is being very hypocritical since it is not like corruption does not exist in the UN either. In fact, the organization has been called inefficient, incompetent and unwieldy by many in the past.
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