Tether, the company behind the USDT stablecoin, has announced its commitment to security and close working relationships with law enforcement. The company made public the letters it sent to the US Senate Banking, Housing and Urban Affairs Committee and the US House of Representatives Financial Services Committee.
The letters, sent to Senator Cynthia Lummis, a known cryptocurrency supporter in the Senate, and the chairs and ranking members of the aforementioned committees, outline Tether's latest security measures. The company's recently appointed CEO, Paolo Ardoino, highlighted the company's decision to decommission Tether's tokens in all wallets on the Office of Foreign Assets Control (OFAC) sanctions list.
Tether claims to have assisted the Department of Justice, the US Secret Service and the Federal Bureau of Investigation (FBI) in freezing 326 wallets controlling 435 million USDT. However, the most recently frozen wallets are said to contain less than this amount of tokens.
Ardoino announced that Tether “recently included the United States Secret Service on their platform and is in the process of doing the same for the FBI.”
Tether also made the following interesting statements in the continuation of its statements: “Tether is grateful for the opportunity to address the concerns raised by US lawmakers and we are committed to continuing Tether's close work with law enforcement in the US and globally. “Tether aims to be a world-class partner for the United States as it continues to assist law enforcement and expand dollar hegemony globally.”
*This is not investment advice.
