It is also unclear to me why your father is going to give you US denominated tether cryptocurrency instead of cash. The tax treatment of both gifts would be exactly the same.
In the United States, the receiver of a gift does not pay income tax. If the gift is from a foreign person and is more than $100,000, the gift must be reported to the IRS on a form 3520, even though no gift tax is owed. This applies to all gifts including property and intangible assets, so if your father gave you more than $100,000 of cryptocurrency, you must still report it, and you can be fined for failing to report. The US has money laundering laws that require banks to report money transactions of more than $10,000. If your father gives you more than $10,000 of cryptocurrency so he can avoid the reporting requirement and then you immediately convert it back to US cash, this may constitute a separate financial crime called “structuring“ even though the gift itself is perfectly legal and non-taxable. (I suppose that if the banking and financial industry of his country is insecure, you might feel that it will be safer to perform the transfer via cryptocurrency rather than a bank wire transfer. In that case, you might have a defense against the charge of “structuring“. However, I would still be cautious, and if the amount is substantial, you may wish to get professional legal advice.)
