Discover the crypto universe in depth

Tether Takes a Strong Stance Against Illicit Use of Stablecoins

Tether Takes a Strong Stance Against Illicit Use of Stablecoins

Tether, the issuer of the USDT stablecoin, recently made public a series of letters shared with numerous US legislators. In these letters, Tether announces its close collaboration with the FBI and the Secret Service in the fight against the illicit use of digital assets. Already, over 435 million USDT have been frozen in accounts sanctioned by the United States.

In one of the letters addressed to US lawmakers, Tether’s new CEO, Paolo Ardoino, highlighted the company’s decision to deactivate Tether tokens in wallets listed on the Office of Foreign Assets Control (OFAC) sanctions list. Ardoino views this integration as a key element of their security strategy, emphasizing the importance of collaboration with authorities.

“The recent letters from Tether reaffirm the company’s ongoing efforts to assist US law enforcement and regulatory authorities in their fight against terrorism financing and other illicit activities.” – Tether’s statement

Tether to Integrate with FBI on its Platform

Additionally, Tether has announced that it recently integrated the United States Secret Service onto its platform and is in the process of doing the same with the FBI. This collaboration aims to identify and freeze wallets controlling illicit funds. So far, Tether claims to have assisted the Department of Justice, the Secret Service, and the FBI in freezing 326 wallets, totaling 435 million USDT.

Related Posts