- Tether has disclosed its communications with American authorities.
- These communications outline the company’s efforts to combat money laundering and terrorist financing.
- Tether acknowledges its active collaboration with law enforcement agencies.
- Additionally, the company claims to have frozen the accounts of sanctioned individuals with assets totaling $435 million.
Tether has revealed its close partnership with the FBI and the US Secret Service through letters sent to American officials.
These letters, dated November 16 and December 15, 2023, were made public by Tether. They were addressed to Senator Cynthia Lummis and US Representative French Hill.
Within these letters, Tether provides an in-depth explanation of the measures taken to combat money laundering (AML) and terrorist financing. The company also highlights its active and extensive cooperation with law enforcement agencies in the United States and worldwide.
Tether specifically mentions its collaboration with the Department of Justice, Secret Service, and FBI. Additionally, the company states its compliance with sanctions imposed by the US Office of Foreign Assets Control.
“Tether is dedicated to establishing new industry standards by prioritizing security, regulatory compliance, and support for law enforcement. Our aim is to make these practices the norm within the cryptocurrency industry,” the organization emphasized in a statement.
The letter dated December 15 reveals that Tether has frozen the wallets of sanctioned individuals and counterparties, amounting to $435 million in assets.
Since the implementation of new security regulations on December 1, Tether has indeed reported several significant address blockages.
At the start of the month, the company blocked 161 addresses simultaneously. A few days later, an additional four wallets were frozen, totaling over $40 million in balance.