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International Business Times
International Business Times
Business
Nica Osorio

USDT Under Scrutiny: Tether Disappointed, Challenges UN's Claims Of Involvement In Illicit Financial Operations

United Nations Tether Paolo Ardoino SouthEast Asia
Pay with Tether (Credit: YouTube Screenshot/Tether Official YouTube Channel)

KEY POINTS

  • Tether said the report ignored its role in helping developing economies
  • "We remain always open for further collaboration, including with the UN": Tether CEO Paolo Ardoino
  • USDT was trading up at $0.9997 in the early hours of Wednesday

Tether, the issuer of the world's most prominent stablecoin USDT, has raised concerns about the accuracy and implications of a UN report that claimed the token is being used by clandestine financial networks and money laundering infrastructure in East and Southeast Asia.

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