Justin Sun, founder of TRON, has openly challenged allegations in a United Nations report concerning the misuse of blockchain technology, specifically targeting claims about Tether’s USDT. While acknowledging the concerns raised in the report, Sun highlighted factual inaccuracies and reiterated TRON’s commitment to maintaining the integrity of blockchain technology.
Sun’s response addressed specific concerns about USDT transactions on the TRON’s TRC-20 protocol, emphasizing TRON’s dedication to preventing the misuse of blockchain technology and pointing out factual inconsistencies in the UN report. This response aligns with TRON’s broader initiative to demonstrate adherence to legal and ethical standards in the blockchain space.
TRON released a statement underscoring its significant role in facilitating USDT circulation through the TRC-20 protocol, highlighting ongoing efforts to monitor transactions, including collaborations with cybersecurity experts on the network. TRON acknowledged its decentralized nature and the limitations in directly regulating third-party actions, including those of Tether.
Tether, the organization behind USDT, defended its role in emerging economies and commitment to transparency, arguing that these factors make USDT an unlikely tool for illegal operations. The company pointed to its recent collaboration with the U.S. Department of Justice, which helped freeze approximately $225 million worth of USDT linked to a human trafficking ring.
Justin Sun proposed leveraging his diplomatic experience to foster global collaboration and emphasized the importance of blockchain education, suggesting potential cooperation between TRON, HTX DAO, and the United Nations. This initiative aims to expand global understanding and access to blockchain technology, reflecting the growing recognition of blockchain’s cross-sectoral importance and the need for a balanced approach that addresses potential risks while harnessing the benefits of this innovative technology.