USDt / Tether is a pillar of the new BRICS financial system Banning it only makes it stronger

Across the new BRICS economic bloc, the Tether stablecoin is a highly preferred medium of conducting trade. Nearly $200 billion in trade settlements are conducted via Tether daily, making it the most actively used cryptocurrency in the world.

Tether is a digital US dollar, but is completely unregulated and out of reach of banking officials in the United States and the European Union.

Efforts are underway to strictly regulate Tether, by requiring them to deposit their vast Treasury bill portfolio with the US Federal Reserve, and to comply with onerous reporting requirements on user activity.

The European Union has effectively banned Tether from its banking systems, pending Tether's compliance with those deposit and reporting restrictions.

But by simply refusing to do so, Tether positions itself even more firmly across giant markets in Asia, Africa, South America, and the Middle East.

Closing scene, Zhongwei Desert Diamond Hotel, Ningxia https://www.archdaily.com/1021665/zho...

Resources and links:

Crypto’s ‘too big to fail’ token Tether faces new threat from US
https://economictimes.indiatimes.com/...

Bloomberg, Crypto’s ‘Too Big to Fail’ Token Tether Faces New Threat From US
https://www.bloomberg.com/news/articl...

Wall Street Journal, The Titans Battling for Control of the Crypto Future
https://www.wsj.com/finance/currencie...

X, Stablecoin Wars: Tether vs. Circle – Who Will Dominate?
https://x.com/CoveyNetwork/status/186...

Tether vs Circle: The Battle for Stablecoin Dominance
https://www.tokenpost.com/news/regula...

Wall Street Journal, Cryptocurrency Tether enables a parallel economy that operates beyond the reach of U.S. law enforcement
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Zerohedge, Russia Using Bitcoin, USDT For Oil Trades With China & India; Report
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Reuters, Russia leans on cryptocurrencies for oil trade, sources say
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Thailand’s SEC gives Tether and USDC the green light for digital trades
https://cryptoslate.com/thailands-sec...

SCMP, As stablecoins grow, Hong Kong’s US dollar peg seen as advantage despite Web3 challenges
https://www.scmp.com/tech/blockchain/...