Archived: https://archive.today/UnNtK
A giant unregulated currency is undermining America’s fight against arms dealers, sanctions busters and scammers. Almost as much money flowed through its network last year as through Visa cards. And it has recently minted more profit than BlackRock, with a tiny fraction of the workforce.
Its name: Tether. The cryptocurrency has grown into an important cog in the global financial system, with as much as $190 billion changing hands daily.
Wherever the U.S. government has restricted access to the dollar financial system—Iran, Venezuela, Russia—tether thrives as a sort of incognito dollar used to move money across borders.
Russian oligarchs and weapons dealers shuttle tether abroad to buy property and pay suppliers for sanctioned goods. Venezuela’s sanctioned state oil firm takes payment in tether for cargoes. Drug cartels, fraud rings and terrorist groups such as Hamas use it to launder income.
Whenever the US starts pointing fingers you know damn well they are doing exactly the same thing.
Why would the U.S. do that when they can just use real dollars? The whole point is this is countries that don’t have access to the dollar. You even quoted that part.
Illegal and/or anonymous funding of destabilisation efforts in places they don’t like.
