Tether USDt

<ul><li>Justin Sun challenges the UN report&#39;s claims about USDT, highlighting factual discrepancies and Tron&#39;s commitment to blockchain integrity.</li><li>The UN report links USDT to money laundering and scams in Southeast Asia, while Tether defends its role in aiding developing economies.</li><li>Tron asserts its limitations to controlling third-party actions on its decentralized network, reiterating its leading role in USDT circulation and commitment to transparency.</li></ul>Justin Sun, the founder of the Tron blockchain, has recently expressed mixed reactions to a United Nations report criticizing the use of the popular stablecoin USDT. Sun acknowledged the UN&#39;s concerns about blockchain technology&#39;s misuse but diverged on certain factual aspects. He emphasized Tron&#39;s commitment to supporting the UN&#39;s efforts against blockchain misuse and pointed out inaccuracies in the report regarding USDT transactions on Tron&#39;s TRC-20 protocol.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6fbb06b22fdd4eb9a9e110fedd4e4c4d.png" />Sun&#39;s response came after the <a href="https://www.ft.com/content/78c6ea20-5e9d-40ba-867f-1e0431ebb710" rel="noopener noreferrer nofollow">UN warned</a> of the increasing use of Tether’s USDT for money laundering and scams, especially in Southeast Asia. According to the UN, <a href="https://cryptotale.org/twitch-to-ban-crypto-gambling-livestreams-after-backlash/" rel="noopener noreferrer nofollow">online gambling platforms</a> are major conduits for such activities, with USDT being a prominent payment method. Tether, in response, defended its role, highlighting its significance in developing economies and underscoring its transparency, which makes USDT an unlikely tool for illicit activities.The UN report underscored the prevalent use of USDT in various forms of fraud, including &#34;pig butchering&#34; scams. Tether, acknowledging its commitment to combating such abuses, <a href="https://tether.to/en/following-investigations-by-tether-okx-and-the-us-department-of-justice-tether-voluntarily-freezes-225m-in-stolen-usdt-linked-to-international-crime-syndicate/" rel="noopener noreferrer nofollow">cited</a> an instance from November where it assisted the U.S. Department of Justice in freezing about $225 million in USDT linked to a human trafficking group involved in such scams.Read full article at <a href="https://cryptotale.org/strong-response-from-tron-for-uns-critique-over-usdt-report/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Strong Response from Tron for UN’s Critique Over USDT: Report

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