USDD is managed by the Tron DAO reserve which comprises members including Amber, Poloniex, Ankr, Mirana, Multichain, FalconX, and TPS Capital. That said, we believe the role of TDR members is limited to minting and burning of USDD to maintain its price, while reserves management rests with undisclosed persons. Defacto control over USDD lies with Justin Sun and TRON.
No information about the management of USDD’s reserves or the entity that holds/controls the reserves is available publicly. We can only speculate that such an entity would be domiciled in a place where one can freely operate on the boundaries of regulation and compliance.