Tether introduces wallet freezing for U.S. OFAC-sanctioned individuals.

Janak9955

In order to collaborate with U.S. regulatory authorities, Tether is expanding its control over sanctions to the secondary market. According to a blog post on December 9th, stablecoin issuer Tether has announced another step in cooperation with law enforcement and regulatory agencies by initiating a voluntary wallet freezing policy. Since December 1st, Tether has implemented control measures in the secondary market, freezing activities related to individuals sanctioned on the U.S. Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list. Companies and individuals associated with sanctioned countries are included in this list. According to Tether, this policy supplements existing security protocols and is part of "an active effort to collaborate more closely with global regulatory and law enforcement agencies."

Shri

This policy is worth looking into.

Ritu77

It's being pragmatic, otherwise, it would face significant challenges in the United States.

Samiksha

Considering the freezing policy is still worth contemplating.