GI-TOC Report Details USDT's Role in Illicit Gold Trade
The Transnational Crime Research Organization (GI-TOC) reports Tether's $USDT is used in the trade of illegally mined gold from Venezuela's Amazon region. Venezuela is identified as a hub for this illicit gold trade.
Venezuela serves as a prominent hub for this illicit Amazonian gold, primarily sourced from illegal mining in the Amazon, with some originating from Guyana. Transactions for this gold are frequently settled locally using $USDT. USDT's involvement in this trade has substantially increased over the past two years, and the report projects $USDT-settled gold transactions will generate an estimated $2.2 billion in revenue by 2025.