Justin Sun Replies to UN Report on Illegal Use of Stablecoin USDT

The Tron blockchain project, led by founder Justin Sun, has responded to the recent findings of a group of UN experts who stated that the stablecoin USDT from Tether is being increasingly used for illegal financial activities.

The organization highlighted instances of USDT being involved in romance scams, pig butchering schemes, and the underground online casino market in Southeast Asia. Tron has stated its full support for the UN’s efforts to combat the illegal use of stablecoins like USDT.

However, the team has pointed out that it is inaccurate to suggest that transactions on the project’s TRC-20 protocol are the primary choice for attackers.

While it is true that more than 50% of the total USDT transaction volume takes place on Tron’s network, the team asserts that they are not able to directly influence third-party transactions due to the decentralized nature of the technology.

The project’s developers have stated that they are actively involved in sharing data on blockchain transactions on a global level.