A recent report from the South China Morning Post (SCMP) explains the enabling role that Tether’s USDT has on the underground Chinese-linked economy of Cambodia. The stablecoin is allegedly used in different activities like sidestepping capital controls for Chinese nationals, who can use it as an exchange device to acquire tools to facilitate online scams.
Tether’s USDT Present In Shadow Economy of Cambodia
A recent article published by the South China Morning Post (SCMP) has revealed the role that USDT, the largest dollar-pegged stablecoin in the cryptocurrency market, plays in enabling underground activities in Cambodia. According to SCMP, the cryptocurrency is widely available in exchanges targeting the Chinese expat community that lives in Cambodia.
Huione Pay, a Cambodia-approved financial platform, hosts a series of Telegram groups providing exchange services for cryptocurrency assets, including USDT. According to SCMP’s investigation, some of these groups offer tools to fa
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