$BTC For US Treasury, most popular cryptocurrency in Brazil fuels terrorism
“We have seen an increase in the use of stablecoins, notably the USDT stablecoin, by sanctioned individuals,” said Brian Nelson
US Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson said during Consensus, the world's largest cryptocurrency event, that the department has seen an increase in the use of the cryptocurrency Tether (USDT) by criminals.
The stablecoin is the largest token in the world pegged to the US dollar. Last year, InfoMoney exclusively revealed that the digital asset is used in the region of Rua 25 de Março, in São Paulo, to fuel smuggling. Cryptocurrency is also the most used in Brazil, according to data from the Federal Revenue.
“We have seen an increase in the use of stablecoins, notably the USDT stablecoin, by sanctioned individuals, scammers and terrorist groups,” said Nelson, also mentioning that other crypto groups, such as non-fungible tokens (NFTs), are also susceptible to scams. and fraud.