Tron Debunks UN Study Report On Bad Actors Nexus
The Tron Decentralized Autonomous Organization (DAO) has debunked a United Nations report linking bad actors to most tether transactions facilitated via its protocol. It also refers to the more than 50% share of the USDT stablecoins in circulation as a “testament to the superior trust bestowed upon the Tron blockchain by the global community.”
UN Links Bad Actors to TRC20 USDT
The Tron decentralized autonomous organization (DAO) has debunked sections of a United Nations (UN) study report underlining that USDT transactions via its TRC20 protocol are largely done by bad actors. Tron DAO has stated that it actively engages on-chain forensic partners to exchange information regarding transactions on the blockchain. This practice helps in blocking and stopping malicious actors from using the protocol.
The UN study report recently indicated that money launderers and fraudsters in Southeast Asia are increasingly using the stablecoin USDT for payments and fund transfers. The regional representative of the World Body claims that the absence of a regulatory framework has fostered the use of Tether in the region as the preferred choice of bad actors.
The official statement from Tron concurs with the UN stance on the use and misuse of stablecoins, but it debunks the allegation that bad actors are solely behind the popularity of TRC20 stablecoins.
“TRC20 is the world’s most popular on-chain settlement protocol by USDT circulation, with over 50% market share, followed by Ethereum. This market share is a testament to the superior trust bestowed upon the Tron blockchain by the global community,” Tron DAO stated.
Tron Joins Tether in Debunking the UN Study Report
Tron also stated that it cannot speak on behalf of third parties like USDT issuer Tether. The stablecoin issuer has also issued a statement debunking the UN study report, similar to Tron. Tether has highlighted that it is collaborating with global law enforcement agencies and not enabling bad actors, as alleged in the report.
What is your take on Tron debunking the UN study report on bad actors? Please share your thoughts and opinions in the comments section below.
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