Tether Responds to Allegations in UN Report, Dismisses Claims of USDT Being Linked to Criminal Activities

USDT stablecoin provider Tether This response was directed towards the United Nations Office on Drugs and Crime, which has categorized USDT as a means for engaging in illegal activities throughout Southeast Asia. UNODC ) new report Tether criticized the UN report for failing to acknowledge the extensive measures the company has taken alongside international law enforcement to combat blockchain-related crimes, stressing its proactive initiatives to collaborate with government bodies on addressing illegal uses of cryptocurrencies.

Tether stated, \"The UN neglects to recognize the crucial role of blockchain technology in identifying, halting, and preventing illicit actions, as the transparent ledger allows for detailed tracking of every transaction,\" in a communication with Metaverse Post.

In addition, Tether pointed out that their collaborations with global law enforcement agencies empower them to freeze unlawful transactions, providing a significant deterrent against cryptocurrency misuse, a capability not possible with traditional fiat currencies or other asset forms.

Tether emphasized, \"Our partnership with law enforcement, including the DOJ, FBI, and USSS, who have recently begun using the Tether platform, gives us unmatched oversight compared to traditional banking, which has long been exploited for laundering significant amounts, as shown by the penalties they've faced.\"

Furthermore, they indicated that the use of public blockchains allows for thorough tracking of every transaction, making it an impractical choice for illegal activities. This was underscored by their recent decision to freeze over $300 million in suspicious funds in recent months, thereby reinforcing their commitment to tackling the illicit application of cryptocurrencies. official statement Tether has rolled out security measures, which include joint developments with Chainalysis to create tools for monitoring secondary markets, ensuring their community's protection effectively.

Encourages UNODC to Widen Their Perspective Beyond Just Risks

The UNODC's findings omit the traceability aspect of Tether tokens and the proven collaboration between Tether and law enforcement.

"Instead of focusing purely on potential risks, the UN should also explore how centralized stablecoins can enhance efforts against financial crimes. There are numerous opportunities available to combat financial crimes on blockchains, and it is crucial for the UN to collaborate with the industry to understand and implement contemporary strategies to tackle these issues. Tether is more than willing to engage in such discussions,\" Tether remarked.

The company conveyed its belief that the UNODC could significantly benefit from a deeper grasp of blockchain technology and the improvements it offers in fighting financial crimes. They urged UNODC to adopt a more proactive stance toward gaining knowledge and stressed the value of fostering a well-informed atmosphere.

Additionally, Tether expressed its ongoing support to the UNODC in its quest for greater insight into these complex issues, inviting the organization to engage in meaningful collaborative discussions, drawing from its successful partnerships with multiple global law enforcement entities.

USDT’s Market Share Grows Despite Regulatory Pressure

Tether’s USDT stablecoin, which is pegged to the US dollar, allows traders to navigate the volatile cryptocurrency markets with ease. This characteristic sets it apart from unpegged cryptocurrencies, which are largely seen as means for speculation.

Currently, USDT boasts a circulating supply of approximately $95 billion, making it the leading stablecoin within its category. It’s worth noting that in 2023, Tether increased its share of the global stablecoin market from 50% to an impressive 71%.

A report titled 'Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia: A Hidden and Accelerating Threat' revealed that over the years, authorities have observed an uptick in the use of sophisticated money laundering techniques by specialized underground teams utilizing USDT in Southeast Asia. Bitcoin The report also highlighted the escalating role of stablecoins in illegal online gaming platforms and scams known as 'pig butchering.'

In recent times, Tether has faced scrutiny from regulators regarding its asset management practices and relationships with financial institutions. Despite the mounting allegations, the company has rapidly responded to these concerns and is seeking cooperation with relevant agencies.

Yesterday, UNODC’s report The company has involved the U.S. Secret Service and Federal Bureau of Investigation in its platform activities to bolster its endeavors in curbing illegal activities.

As Tether addresses the allegations put forth in the UN's report, it remains dedicated to collaborating with international law enforcement, advocating for transparency and responsibility in the realm of digital currencies.

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In late December 2023, the company enlisted Blum Commemorates One Year Anniversary with 'Best GameFi App' and 'Best Trading App' Accolades at the Blockchain Forum 2025

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