Tether Introduces New Policy to Strengthen Ecosystem Security

December 9, 2023 – Tether, the largest cryptocurrency industry, today announced its latest efforts aimed at protecting the cryptocurrency ecosystem. On December 1, 2023, the company launched a new voluntary wallet aimed at combating activity related to sanctioned persons on the Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list. We have decided to start a freeze policy.

As part of our continued efforts to foster a safe and trusted environment for our users around the world, Tether is taking a further proactive step by implementing this policy, which complements our existing security protocols. Tether will now provide the secondary market with the sanctions regulations it already has in place for wallets on its platform. This initiative is a proactive effort to work more closely with global regulators and law enforcement agencies to protect the use of stablecoins.

In accordance with this policy, Tether has taken additional precautions, including freezing wallets that were previously added to the SDN list. The main purpose of this approach is to proactively prevent potential misuse of Tether tokens and strengthen security measures.

“This strategic decision is consistent with our unwavering commitment to maintaining the highest standards of security in our global ecosystem and expanding our close collaboration with law enforcement and regulatory agencies around the world. ” Tether CEO Paolo Ardoino said: “By implementing a voluntary freeze of newly added wallet addresses to the SDN list, as well as freezing previously added addresses, we are further strengthening the active use of stablecoin technology and making it more accessible to all users. It can foster a more secure stablecoin ecosystem.”

Tether remains steadfast in its mission of prioritizing the security of its users and expects this policy to have a positive impact on its growing community and once again raise standards across the industry.

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