The stablecoin USDT, which is pegged to the dollar exchange rate, has effectively created a parallel financial system beyond the control of the United States, Sofia Glavina, head of the Digital Economy program at the Faculty of Economics at RUDN University, told the agency. “To hit the primer” He noted that we are talking about a decentralized financial system that replicates the dollar but is not subject to the control of the US financial authorities.
According to the expert, the “underground dollar” is used to bypass sanctions and restrictions in international trade, as well as to ensure the security and anonymity of financial transactions.
“It is interesting that, judging by indirect data, metallurgical companies use USDT for payments with China, where all cryptocurrencies, including stablecoins, have been illegal since 2021,” Glavina said.
He believes that USDT could be dangerous for the American economy if it is not subject to any restrictions. In fact, it is already a significant alternative to the dollar.
Earlier, Secretary of the Security Council of the Russian Federation Sergei Shoigu, at the meeting of the BRICS high representatives reportedThe blocking of the Central Bank of Russia’s assets shows that the world needs to move away from the dollar.
Trump previously said that American officials to destroy The dollar is the world currency.
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Source: Gazeta
Barbara Dickson is a seasoned writer for “Social Bites”. She keeps readers informed on the latest news and trends, providing in-depth coverage and analysis on a variety of topics.