Tether, the issuer of the most popular stablecoin USDT, has not yet decided whether it will follow the example of its colleagues from Circle, who announced the end of support for the USDC stablecoin on the TRON network. “Tether tokens are issued on several blockchains, which are simply transport layers for such tokens,” the company told Cointelegraph when asked to comment on Circle’s decision.
“Tether retains the ability to freeze transactions on each directly supported transport layer to accomplish its compliance duties. Nevertheless Tether actively monitors the safety of each one of the supported transport layers to ensure the highest standards to our community,” the company added.
Last month, a UN report found that USDT on the Tron blockchain has become the preferred choice for cyber fraud and money laundering in Southeast Asia due to simplicity, anonymity and low transaction fees. Tether denied the report, saying the UN ignored USDT’s traceability and the firm’s record of cooperation with law enforcement.
Image: Binance Academy
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