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The England High Court of Justice has dropped a bombshell. It's ruled that Tether's USDT stablecoin is property. This verdict's got the crypto world buzzing. Crypto pundit GS took to X (formerly known as Twitter) to break it down. He reckons this could be a game-changer for USDT adoption. Why? It's all about cutting through the regulatory fog. "This ruling provides a clear legal framework for cryptocurrencies like USDT," GS posted. It's a green light for investors, signaling USDT's legitimacy and stability. But here's the kicker: GS thinks this could set off a global domino effect. It's one of the "first detailed recognitions of cryptocurrency as [a] property," he notes. Other jurisdictions might follow suit, and that could mean smoother sailing for crypto regulations worldwide. Not everyone's popping champagne, though. GS points out a potential fly in the ointment. Legal recognition could mean Tether faces more regulatory scrutiny, that might also lead to stricter compliance rules. There's more. This ruling could open Pandora's box of legal battles for Tether. If there are any skeletons in Tether's reserve closet, they might come tumbling out. GS warns this could spark "volatility or a drop in trust if negative information emerges." Some crypto die-hards might not be thrilled either. They dig the whole 'no government oversight' vibe. GS reckons increased regulation could spook them and they might jump ship to "less regulated or more privacy-focused assets." So, what's the market going to make of all this? GS says it's not a clear-cut bullish or bearish scenario. It'll depend on how the crypto grapevine spins it and how Tether plays its cards. Short-term, we might see a bull run due to the "novelty and positive media coverage." Long-term? It's anyone's guess. It'll hinge on how Tether adapts to its new legal status. GS doesn't see this causing major waves in the broader crypto market just yet. Unless it messes with trading volume, investor sentiment, or global regulations, that is. This UK ruling isn't happening in a vacuum. The British government's also cooking up a bill to classify crypto and tokenized assets as personal property. Looks like the crypto legal landscape is in for a shake-up.

Tether, TRON, and TRM Labs have teamed up. They're launching a private sector crime unit. It's called the T3 Financial Crime Unit (T3 FCU). The goal? To fight dodgy USDT use on the TRON blockchain. USDT is the biggest stablecoin out there. It's also become a go-to for some shady dealings. The new unit wants to change that. "We're creating a safer crypto community for everyone," the companies said in a joint statement. They're not messing around. The T3 FCU has already frozen over $12 million linked to scams. TRON founder Justin Sun chimed in. "We believe tech can be used for good," he said. "This collaboration sends a clear message. Illicit activity isn't welcome in our industry." The move comes as USDT usage skyrockets, it's now surpassed Visa in transaction volume. That's huge. In countries with weak economies, people are turning to USDT, trying to hedge against inflation. Tether's been busy on the crime-fighting front. Earlier this year, they helped the U.S. Department of Justice recover $5 million in USDT. That's no small potatoes. This new unit brings together some serious expertise. TRM Labs is a top blockchain intelligence firm. TRON's a major player in the blockchain world. And Tether? They're the biggest fish in the digital asset pond. The focus right now is on TRON. But who knows? If this works out, we might see similar efforts on other blockchains. It's a bold move in a wild west industry. Will it work? Only time will tell. But one thing's for sure – the crypto world is growing up fast. This initiative could be a game-changer. It's not just about catching bad guys. It's about building trust in crypto.

Trust Wallet, a crypto wallet backed by ex-Binance boss CZ, is seeing user growth in developing regions. Africa and South Asia are the hotspots. Users there want stablecoins like USDC for financial stability. Trust Wallet CEO Eowyn Chen spilled the beans to CryptoNews at Korea Blockchain Week 2024. The firm's still got CZ's backing, even after his Binance exit and prison stint. Chen, based in Dubai, says downloads are steady at 1-2 million per week. Market ups and downs? No sweat. This shows a growing need for on-chain wallets where traditional finance is shaky. "Many of our users in Africa and South Asia are looking for security and stability in their financial holdings," Chen said. She's not kidding around. Over $8 billion in USD stablecoins, mainly USDC, are chilling in Trust Wallet. Why the stablecoin craze? It's a no-brainer. In emerging markets, banking infrastructure often sucks. Crypto wallets step in, letting users manage money without relying on traditional banks. Stablecoins, pegged to the greenback, help users dodge inflation and currency depreciation. Now, let's talk South Korea. Chen says local users are all over crypto trading and DeFi. But it's not all smooth sailing. Regulations and market quirks make widespread adoption a tough nut to crack. "Korea is a highly competitive market," Chen explained. They want local language support, slick UI/UX, and high-risk, high-reward investments. It's a FOMO-driven market, where big local launches can spark wider adoption. David Kim, a smart contract whiz at Trust Wallet, chimed in on South Korean conglomerates exploring Web3. He told CryptoNews that big names like Line, Naver, and SK Telecom are waking up to Web3 wallets' importance. But it's not all rainbows and unicorns. Most companies are still figuring out how to mesh Web3 with their existing services. Some are teaming up. Ahn Lab and SK Telecom, for instance, merged their Web3 products to create a more appealing solution. Despite these moves, Kim notes that South Korea's Web3 market is still CEX-heavy. "A lot of retail users' funds are concentrated on CEXs, while only a small portion is in the DeFi sector," he said. Looks like there's still a long way to go.

Tether Holdings, the big cheese behind USDT, has ditched plans to launch its own blockchain. The move comes as the market bursts at the seams with existing chains. Paolo Ardoino, Tether's CEO, spilled the beans to Bloomberg News. He reckons the market's already jam-packed. "We're tech whizzes, but blockchains will be a dime a dozen soon," Ardoino quipped. The stablecoin giant's decision stems from supply and demand principles. Ardoino pointed out that several top-notch blockchains already exist. USDT, with a $117 billion market cap, is a key player in global crypto trading and remittances. Tether's deep pockets could've easily funded a new blockchain. But market data backs their choice to hold off. DefiLlama shows the top five chains control about 86% of total locked assets across 306 chains. Ethereum leads the pack. It boasts $87.7 billion in total value locked (TVL) out of $133.2 billion across all chains. TRON isn't far behind. It manages $8.1 billion in TVL and supports 49% of USDT's supply. Blockchain success hinges on speed, low fees, use cases, and security. Ethereum's dominance stems from its first-mover advantage and flexibility for developers. The blockchain world has evolved into a multichain environment. Developers and issuers spread their activities across various platforms. Tether's focus remains on USDT's security and sustainability. "For us, blockchains are just transport layers," Ardoino stated. Concerns about USDT's backing assets persist in the crypto world. A recent UN report flagged Tron's popularity in cyber fraud and money laundering in Southeast Asia. Tether has dismissed these claims. They stress their cooperation with law enforcement and token traceability. Earlier this year, Tether partnered with Fuze to boost digital asset education in Turkey and the Middle East. The duo aims to tackle various aspects of digital asset education. In July, Tether introduced a new payment option in the Philippines. It allows people to pay social security contributions using USDT. The SSS is a state-run social insurance program. It supports employees in both formal and informal sectors.

TRON DAO Reserve's USDD stablecoin has lost its Bitcoin backing. The move was spotted on social media Tuesday. It's left USDD relying mainly on TRX, Tron's native token. A whopping 12,000 BTC vanished from USDD's collateral address. That's about $726 million gone. No official announcement came from TRON DAO. Tron founder Justin Sun brushed it off on X. "Not mysterious," he said. Sun compared it to MakerDAO's operations. He claimed USDD wasn't capital efficient. "Any collateral holder can withdraw any amount freely," Sun wrote. He boasted of USDD's "long-term collateralization rate" exceeding 300%. USDD started life as an algorithmic stablecoin. It was similar to Terra's ill-fated UST. After UST's epic crash in May 2022, USDD switched to a hybrid model. It was backed by Bitcoin, TRX, USDT, and USDC. Sun hinted at future upgrades. He wants USDD to be "more competitive" in the market. But he didn't address the DAO's role in the recent change. USDD's market cap sits around $744 million, per CoinGecko. It's barely clinging to a top 100 spot. PayPal's new PYUSD stablecoin recently overtook it. TRX is now USDD's main backer. It's more volatile but holds a top 10 spot, excluding stablecoins. TRX is trading at $0.15, more than double its value a year ago. Its market cap? A cool $13.5 billion. Tron's been riding the meme coin wave lately. Sun's been pushing TRX hard as a meme coin marketplace. It's paid off big time. The Tron ecosystem's total value locked (TVL) just surpassed Solana's. It's now the second-largest blockchain by TVL. We're talking $8.2 billion across 30+ DeFi protocols, according to DeFi Llama. This USDD shake-up is a big gamble. Sun's betting on TRX's meme coin momentum. But ditching Bitcoin backing? That's a bold move, Cotton. Let's see if it pays off for them.