Tether: Calling on the United Nations to work with the blockchain industry to understand and implement modern strategies to combat financial crime

PANews reported on January 15 that in response to the United Nations’ recent accusations , Tether issued a statement saying: “We are disappointed with the United Nations assessment report, which singled out USDT and emphasized its involvement in illegal activities while ignoring its role in helping emerging markets. role in developing economies. And emerging markets are completely ignored by the global financial community because it is not profitable for them to serve these communities. Through our work with law enforcement agencies around the world, including the U.S. Department of Justice, the FBI and USSS (recently added to the Tether platform), monitor Tether tokens, ensuring unparalleled surveillance beyond the traditional banking system, which has been a vehicle for money laundering for decades, as evidenced by the fines levied against them This. Using a public blockchain, Tether tokens can meticulously track every transaction, making it an impractical option for illegal activity. Over the past few months, we have frozen over $300 million in funds, This demonstrates our commitment to combating the criminal use of cryptocurrencies. Implementing security measures, including co-developing tools with Chainalysis to monitor secondary markets, underscores our commitment to community protection. The United Nations’ analysis ignores the traceability of Tether tokens, and Tether’s proven track record of working with law enforcement. The United Nations should not just focus on the risks, but also discuss how centralized stablecoins can improve anti-financial crime efforts. There are more opportunities to stop financial crime on the blockchain, and the United Nations has It is necessary to work with the industry to understand and implement modern strategies to combat financial crime. Tether is happy to collaborate on these issues.”