Tether increases surveillance of USDT transactions on secondary markets

• Tether, the issuer of the USDT stablecoin, has partnered with blockchain surveillance company Chainalysis to monitor its token transactions on secondary markets.
• This move is aimed at improving international sanctions compliance and detecting illicit transfers linked to activities such as terrorist financing.
• Chainalysis will provide several tools to Tether, including Sanctions Monitoring, Illicit Transfer Detector, Categorization, and Largest Wallet Analysis.

Tether aims to enhance transparency and security in cryptocurrency transactions through its partnership with Chainalysis, a move that comes amidst increased scrutiny from global regulators.

Enhancing Compliance and Security

Tether’s collaboration with Chainalysis is set to bolster the security and transparency of its transactions. The blockchain surveillance company will provide tools that can identify crypto wallets associated with illicit activities or sanctioned addresses. This is a significant step in Tether’s ongoing commitment to establishing transparency and security within the cryptocurrency industry, as stated by Tether’s CEO Paolo Ardoino.

Increased Scrutiny from Regulators

The partnership comes at a time when Tether faces heightened scrutiny from global regulators and policymakers over its USDT and its alleged role in bypassing international sanctions and illicit finance. Criticisms have been leveled against Tether for its purported involvement in criminal activities and terrorism financing. U.S. lawmakers have called for investigations into Te... Read the full article for FREE at COINOTAG!