TechFlow reports, according to a recent South China Morning Post (SCMP) report, that Tether's USDT is playing a role in facilitating Cambodia’s underground economy linked to China.
The stablecoin is allegedly being used for various activities, such as helping Chinese citizens circumvent capital controls and serving as an exchange tool to obtain resources that support online scams.
In addition, the report identified operators advertising bank cards that can be used to receive funds from scam victims, along with services including criminal background checks, company registration records, and bank statements. These operators reportedly accept USDT as payment. Cambodia has banned cryptocurrencies since 2017.
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