WSJ: Tether is disrupting the US global sanctions system

The Wall Street Journal (WSJ) published an article stating that Tether (USDT) is undermining the US fight against arms dealers, sanctions breakers and scammers. In 2023, the amount of money flowing through the Tether network was almost as much as that through Visa cards, with a full-year net profit of $6.2 billion, surpassing the asset management giant BlackRock (net profit to common shareholders of $5.5 billion), but Tether's number of employees (less than 100) is only a small fraction of BlackRock's. The article pointed out that although Tether will review the identity of direct customers, its huge secondary market is unregulated. According to a United Nations report in January this year, USDT is the "first choice" for money laundering in Southeast Asia.