Russians could face the freezing of assets in one of the most popular cryptocurrencies, the USDT stablecoin, "simply on instructions from the US administration". Large assets belonging to holders from Iran and Russia have been blocked in recent years, according to a Russian banking sector official.
Source: The Moscow Times, an independent Amsterdam-based news outlet
Quote: "A bank serving Putin's military-industrial complex has warned of the threat of Russians' cryptocurrency assets being frozen. Russians may have their assets frozen in one of the most popular cryptocurrencies, the USDT stablecoin."
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Details: Petr Fradkov, CEO of PSB, a key bank for Russia's military-industrial complex, explained that Tether Limited retains full control over the USDT it issues and can "freeze" funds in accounts not only of owners linked to unlawful activity, but also "simply on instructions from the US administration".
