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Tether's Rise in Cybercrime
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Tether, a stablecoin linked to the US dollar, is increasingly favored by money launderers and scammers, according to a UN report. The report emphasizes tether's appeal due to its stability, ease of use, anonymity, and low transaction fees, contributing to its popularity in cyber fraud, money laundering, and underground banking cases.
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How might the popularity of Tether impact the broader cryptocurrency market and regulatory frameworks?
What implications does this have for the effectiveness of traditional financial systems in combating financial crimes?
What measures can be taken to combat the growing use of Tether in cybercrime and money laundering?
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