Tether has published two letters to US legislators. In them, the company declared its commitment to combating the illegal use of the USDT stablecoin.
One document was sent to the Senate Banking, Housing and Urban Affairs Committee. The second is addressed to the House Financial Services Committee.
“Tether’s recent letters confirm the company’s continued efforts to assist U.S. law enforcement and regulatory authorities in their fight against terrorist financing and other illicit activities,” the USDT issuer said in a statement.
For the Senate Banking Committee, the firm outlined its policies and standards on anti-money laundering and KYC practices. Tether also described active cooperation with law enforcement around the world, including the US Department of Justice and the Secret Service (USSS).
In a document for the House of Representatives committee, the company noted that it is assisting the Treasury Department's Office of Foreign Assets Control (OFAC) in maintaining the sanctions regime.
On December 1, 2023, Tether began freezing wallets associated with the department’s SDN list. The firm called it “a landmark initiative to enhance security and compliance in the cryptocurrency ecosystem.”
The company also pointed to its assistance to agencies such as the DOJ, USSS and FBI. In a number of cases, it was not only about combating illegal financial activities, but also about restoring the assets of victims.
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Paolo Ardoino: Tether will help the FBI and the Secret Service
One of the largest issuers of stablecoins has disclosed information about the depth of cooperation with US law enforcement agencies and intelligence agencies.
Tether CEO Paolo Ardoino announced that the company he leads has sent a formal notice to the U.S. Senate Banking, Housing and Urban Affairs Committee and the House Financial Services Committee expressing its “commitment to unquestioning compliance with the measures.” security and a close working relationship with law enforcement." Including in compliance with international sanctions against foreign states.
“Tether is committed to being a trusted partner to US authorities as we help expand dollar hegemony around the world. Tether is grateful for the opportunity to resolve the issues raised by legislators and is committed to continuing close cooperation with law enforcement agencies,” the CEO assured.
Paolo Ardoino said that Tether intends to cooperate even more closely with the US Secret Service and the Federal Bureau of Investigation.
One document was sent to the Senate Banking, Housing and Urban Affairs Committee. The second is addressed to the House Financial Services Committee.
“Tether’s recent letters confirm the company’s continued efforts to assist U.S. law enforcement and regulatory authorities in their fight against terrorist financing and other illicit activities,” the USDT issuer said in a statement.
For the Senate Banking Committee, the firm outlined its policies and standards on anti-money laundering and KYC practices. Tether also described active cooperation with law enforcement around the world, including the US Department of Justice and the Secret Service (USSS).
In a document for the House of Representatives committee, the company noted that it is assisting the Treasury Department's Office of Foreign Assets Control (OFAC) in maintaining the sanctions regime.
On December 1, 2023, Tether began freezing wallets associated with the department’s SDN list. The firm called it “a landmark initiative to enhance security and compliance in the cryptocurrency ecosystem.”
The company also pointed to its assistance to agencies such as the DOJ, USSS and FBI. In a number of cases, it was not only about combating illegal financial activities, but also about restoring the assets of victims.
**********
Paolo Ardoino: Tether will help the FBI and the Secret Service
One of the largest issuers of stablecoins has disclosed information about the depth of cooperation with US law enforcement agencies and intelligence agencies.
Tether CEO Paolo Ardoino announced that the company he leads has sent a formal notice to the U.S. Senate Banking, Housing and Urban Affairs Committee and the House Financial Services Committee expressing its “commitment to unquestioning compliance with the measures.” security and a close working relationship with law enforcement." Including in compliance with international sanctions against foreign states.
“Tether is committed to being a trusted partner to US authorities as we help expand dollar hegemony around the world. Tether is grateful for the opportunity to resolve the issues raised by legislators and is committed to continuing close cooperation with law enforcement agencies,” the CEO assured.
Paolo Ardoino said that Tether intends to cooperate even more closely with the US Secret Service and the Federal Bureau of Investigation.
