Tether has fast become the platform of choice for money laundering and fraud operations across East and Southeast Asia, the United Nations Office on Drugs and Crime (UNODC) warned in a report on organized crime and illicit banking in the region.
Tether, which did not immediately respond to Forbes’ request for comment, is a company that runs a blockchain platform and issues digital tokens pegged to real-world currencies with the backing of its own financial reserves, most notably USDT, or tether, which is tied to the U.S. dollar one-for-one.
The agency said tether’s stability, ease of use, anonymity and low transaction fees has helped the digital token become a “preferred choice” for fraudsters and money launderers alike and intelligence agencies across the region say tether ranks “among the most popular cryptocurrencies” used by organized crime groups.
source
https://www.forbes.com/sites/roberthart/2024/01/15/tether-cryptocurrency-becoming-preferred-choice-among-money-launderers-and-scammers-un-warns/?sh=553fd7ef6385
It seems that the authorities have finished with Bitcoin and are now targeting Tether, as there are accusations that the stable currency is used for money laundering and crime due to its ease of transfer between users instead of transferring money in large bags.
Tether has a history of freezing funds inside wallets and not ensuring that every dollar they hold is printed with USDT in return and it has held out so far, I don't know how it will react to the legal issues.