Tron Disputes UN’s Assessment of Bad Actors Targeting TRC-20 USDT
The Tron Decentralized Autonomous Organization (DAO) has challenged a United Nations study that claims bad actors are the main users of the TRC-20 protocol to facilitate USDT transactions. Tron DAO stated that it actively collaborates with on-chain forensic partners to share information about blockchain transactions, allowing it to prevent malicious actors from utilizing the protocol. While Tron supports the UN’s proposal, it disagrees with the assertion that bad actors are solely responsible for the popularity of TRC-20 stablecoins. Tron DAO notes that its ownership of over 50% of the global USDT market share demonstrates the trust placed in the Tron blockchain by the global community. However, Tron does not speak for third-party entities like USDT issuer Tether, which also rejects the UN’s findings and emphasizes its cooperation with law enforcement agencies as evidence of its commitment to preventing illicit activities.
The UN study previously reported that money launderers and fraudsters in Southeast Asia have increasingly utilized USDT for payments and fund transfers. The absence of relevant regulations was suggested as a potential reason for the preference for tether among bad actors. Tron’s statement aligns with the UN’s concerns regarding the use and misuse of stablecoins while disputing the UN’s claim that bad actors are the primary drivers behind the growing popularity of TRC-20 stablecoins.
Hot Take: Tron Asserts Trust and Collaboration as Key Amid UN’s Accusations
The Tron Decentralized Autonomous Organization (DAO) remains confident in the trust placed in the Tron blockchain by the global community, evident through its majority share of the global market for USDT stablecoins. Despite the UN study’s suggestions of bad actors utilizing TRC-20, Tron DAO emphasizes its active engagement with on-chain forensic partners to prevent such misuse. Tron and USDT issuer Tether both reject the UN’s findings and highlight their collaboration with law enforcement agencies as evidence of their commitment to combatting illicit activities. The debate between Tron and the UN showcases the ongoing challenges surrounding the regulation and use of stablecoins in the cryptocurrency ecosystem.
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