UN flags Tether’s USDT for fueling crime in Southeast Asia
Tether’s USDT stablecoin is fueling a surge in scams in Asia, a recent report from the UN’s office on drugs and crime says. According to a report seen by the Financial Times, USDT has become a key tool among criminal gangs in Southeast Asia, many of whom are using the stablecoin for money laundering and to operate illegal online gambling platforms. “Online gambling platforms, especially those operating illegally, have emerged as among the most popular vehicles for cryptocurrency-based money launderers, particularly for those using Tether.” The United Nations Office on Drugs and Crime While the scale of USDT’s involvement in illegal cases is not explicitly addressed, the UN’s office on drugs and crime noted a “rapidly growing use of sophisticated, high-speed money laundering […] teams specializing in underground tether” in recent years. You might also like: DoJ captures $9m in Tether’s USDT from “pig butchering” operation The Financial Times also mentioned one case w