In response to increasing regulatory pressure, Tether, the issuer of USDT, announced on Thursday that it has partnered with blockchain monitoring company Chainalysis to develop a customizable solution for monitoring secondary market activities. According to Tether’s blog, this monitoring system includes international sanction compliance and detection of illicit transfers, which may be related to activities such as terrorist financing, and will help Tether identify encrypted wallets that may “pose risks or be associated with illegal and/or sanctioned addresses.”
This move comes as global regulatory bodies and policymakers are exerting increasing pressure on Tether due to allegations of evading international sanctions and facilitating illegal financing. It has been reported that the Venezuelan state-owned oil company has been using USDT to bypass US sanctions. A report by the United Nations earlier this year stated that stablecoins play a crucial role in underground banking and money laundering activities in East Asia and Southeast Asia.
Tags:
Chainalysis
Tether
USDT
sanctions
regulation
Source link:
https://tether.io/news/tether-enhances-compliance-measures-with-chainalysis-ec…
Note: The content of this article represents the author’s viewpoint and does not constitute investment advice.
Original article link:
https://www.bitpush.news/articles/6665117
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