Tether Partnerships with Secret Service and FBI Revealed
Tether, the creator of USDT stablecoin, has made public its partnerships with the Secret Service and FBI through letters sent to key U.S. legislative committees. This disclosure follows Tether’s recent actions, including the implementation of a wallet-freezing policy that targets individuals on the U.S. Specially Designated Nationals list.
Tether Takes Proactive Measures to Uphold Crypto Integrity
Under the leadership of CEO Paolo Ardoino, Tether is intensifying its efforts to combat the misuse of its stablecoins in illegal activities. The letters sent by Tether to the U.S. House Financial Services Committee and the U.S. Senate Committee on Banking, Housing, and Urban Affairs highlight the company’s commitment to safety and collaboration with legal authorities.
The letters were shared with Senator Cynthia Lummis, a prominent cryptocurrency advocate in the Senate, as well as other committee members. In the letters, Tether explains its methods for preventing exploitation of USDT and claims to have successfully frozen 326 wallets containing 435 million USDT in collaboration with law enforcement agencies.
Tether Responds to Crypto-Terrorism Allegations
In response to a letter accusing Binance and Tether of aiding crypto-funded terrorism, Tether has emphasized its commitment to supporting law enforcement efforts and condemning the misuse of USDT or any cryptocurrency for illicit purposes. CEO Paolo Ardoino stated that Tether is collaborating with agencies like the Department of Justice, U.S.Secret Service, and plans to do the same with the FBI.
Hot Take: Tether’s Commitment to Compliance and Security
Tether’s disclosure of its partnerships with law enforcement agencies demonstrates its proactive stance in upholding integrity within the crypto industry. By implementing a wallet-freezing policy and collaborating with authorities, Tether aims to prevent the misuse of its stablecoins for illegal activities. These actions not only support law enforcement efforts but also contribute to the overall security and trustworthiness of the cryptocurrency ecosystem.
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