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by volume. The stablecoin, also known as USDT, maintains a 1:1 exchange ratio with the dollar. Traders use it to stash their cash, easily invest in other cryptocurrencies or swap it into traditional currencies such as the dollar. It is the main way Hamas has been funded by Iran and other terrorist sympathizers around the globe.
Tether is not completely untraceable, but in the money moving world it’s the closest thing there is. That is why the world’s bad guys use it. Schweizer said this is because there is a regulatory turf war going on over a basic question: is cryptocurrency a security, or a commodity? Who should take the regulatory lead on regulating cryptocurrencies like Tether – the Securities Exchange Commission or the Commodities Futures Trading Commission?
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