Tether Denies Leaving Uruguay Amid Debt Reports

[johnblockbuster]

Stablecoin issuer Tether has refuted local media reports claiming it is exiting Uruguay due to a $4.8 million debt dispute with the state-owned electricity provider, UTE. Tether confirmed that discussions with the government are ongoing to resolve outstanding payments and emphasized its long-term commitment to the region. High electricity costs—between $60 and $180 per MWh—remain a challenge for energy-intensive crypto operations.