Tether news

Bolivia is considering incorporating Tether's USDT stablecoin into its national payments system, according to a local report from La Razón. The announcement came from Minister of Economy José Gabriel Espinoza Yáñez, who emphasized the need for careful evaluation given Bolivia's presence on the Financial Action Task Force's gray list for deficiencies in anti-money laundering and counter-terrorism financing measures. The country removed a ban on crypto transactions in 2024 and is working on regulations to govern digital asset use. Between July 2024 and June 2025, Bolivia processed $14.8 billion in crypto transactions, ranking eighth in Latin America.

As foreign currency reserves remain under pressure, Bolivia is considering a framework to let the world's largest stablecoin be used for payments, savings and trade.

Hyundai completed a proof-of-concept using Tether's USDT to settle a cross-border treasury transfer between its US and Mexican subsidiaries, highlighting growing enterprise interest in stablecoin-based payments.

Bolivia is evaluating a framework to integrate Tether's USDT stablecoin into its national payments system as a regulated alternative to the boliviano and U.S. dollar, Economy Minister José Gabriel Espinoza announced. The proposal remains under technical review and has not been granted legal-tender status. The move follows a surge in crypto adoption after the central bank lifted restrictions in June 2024, with transaction volumes hitting $430 million in the following year. Any official rollout would require stronger anti-money laundering controls, as Bolivia remains on the Financial Action Task Force's grey list.

Tether, the world's largest stablecoin issuer, has accumulated approximately 154 metric tons of physical gold worth about $20 billion, positioning it near sovereign-scale gold reserves. The gold is stored in Swiss vaults, backing both USDT (about 132 tons) and its tokenized gold product XAUT (about 22 tons). The company aims to leverage this gold for lending via a partnership with crypto lender Ledn, which will accept XAUT as collateral for stablecoin-denominated loans. This move extends Tether's presence into gold-backed credit, combining stablecoins, physical gold, and collateralized lending in a way traditionally handled by separate institutions. XAUT offers advantages over gold ETFs, including 24/7 on-chain settlement and direct use as collateral on crypto lending platforms without intermediaries. However, the product carries risks including custody concentration (gold held by a Tether affiliate), limited physical redemption, liquidation risk due to gold price volatility, and issuer concentration as Tether controls both USDT and XAUT. Regulatory and audit uncertainties remain, with Tether committing to a Big Four audit expected by April 2027. The success of XAUT-backed lending hinges on whether holders will borrow against their gold rather than simply holding it as an investment.

The Bank of Thailand is intensifying surveillance of stablecoins, particularly USDT, as part of a crackdown on money laundering and illicit finance. Governor Vitai Ratanakorn stated the measures are long-term strategies targeting the gray economy, including cash flows and scam-related losses totaling 115 billion THB ($3.4 billion) in 2025. Stablecoins are reportedly used for large value transfers due to near-instant cross-border settlement. New compliance duties for commercial banks will cover cash networks, currency exchanges, gold bullion trading, and suspicious stablecoin transactions. High-value cash transactions and deposits over 5 million baht ($150,000) require source-of-funds declarations. Despite Thailand being a crypto hub, stablecoin payments remain banned, and crypto businesses face regular rule tightening. Bitkub, the largest exchange, sees $26 million daily volume, with USDT/THB pair dominating. Thailand froze three million bank accounts in 2025 as part of its crackdown, but many legitimate users were affected, leading to reports of a 'scammer crackdown gone wrong.'

Thailand’s central bank plans to require proof of origin for cash deposits of 5 million baht ($150,000) or more, part of a fourth-quarter push against the grey economy. The Bank of Thailand (BOT) is also working with securities regulators to audit Tether (USDT) transactions, particularly high-volume trades identified as potentially evading disclosure or moving funds outside standard channels. BOT Governor Vitai Ratanakorn noted that about 40% of USDT sellers on local platforms are foreigners, whom he argues should not operate in Thailand. The measures build on existing rules that have already reduced large cash withdrawals by 35% since April. The bank is also tightening oversight of gold trading and high-value banknote exchanges to detect suspicious activity.

Revolut clarified that its delisting of Tether (USDT) will only affect customers in the European Economic Area and Switzerland, not all global users. The decision follows a review under the EU's MiCA regulation, as Tether did not seek authorization under the framework. The delisting will be completed by August 31, 2026, with USDT already removed from Revolut X for EEA customers. Switzerland, not part of the EU or EEA, was included without explanation.

Hyundai Card has completed its first proof-of-concept for stablecoin-based cross-border remittance using Tether's USDT on the Avalanche blockchain. The test involved a real $20,000 transfer between Hyundai Motor Company's U.S. and Mexican entities, completed in about seven minutes versus three to four hours for traditional bank transfers. Hyundai Card handled regulatory, legal, and tax aspects, with blockchain firm Axiym also participating. A second PoC is planned for later this month with Hyundai's European entities, involving Visa and Circle's USDC, to test cost efficiency with various local currencies.

Bankers flagged a £5 million ($6.7 million) gift to Nigel Farage from Tether billionaire Christopher Harborne to the UK's National Crime Agency via a suspicious activity report (SAR) in May 2024, the Guardian reported. An SAR is not proof of wrongdoing but invites scrutiny of the transaction's origin. Harborne, a major Tether investor and Reform UK donor, ranks sixth on the Sunday Times Rich List. The gift's timing is disputed: Harborne's lawyers say April 5, but sources say some funds arrived after May 23, when Farage initially said he wouldn't run for election. Farage claims the gift was unconditional and not declarable, as he wasn't a politician when received. Parliament's standards commissioner is investigating whether rules were breached. Farage has also faced calls for inquiry over support from a convicted fraudster tied to an offshore crypto casino.