💵 The USDT stablecoin, touted by Tether's founders as a tool for financial inclusivity and a gateway to the cryptocurrency market, has turned into the "dream currency" for money launderers. This conclusion was reached by The Economist.
The publication considered Tether's policy regarding assistance to government agencies in curbing illegal operations with the coin as "strange," and its efforts to comply with regulatory requirements as clearly insufficient.
The article's author also noted that authorities and law enforcement avoid discussing the topic of money laundering through USDT due to concerns that the issuer will cease cooperation.
"Stablecoins are a money launderer's dream. But we don't want to talk about it publicly to avoid damaging our relationship with Tether," said a representative from one of the agencies.
