Tether monitors its customers for sanctions violations


Paolo Ardoino, chief executive of Tether, said that they closely monitor all their customers to make sure that no sanctions are violated.

"We use the World-Check system to systematically analyse each of our clients for potential sanctions violations," he wrote on Twitter.

He also noted that Tether, the creator of the first capitalised USDT stablecoin, has frozen hundreds of millions of dollars by cooperating with law enforcement agencies around the world in more than 200 cases, including numerous cases with US law enforcement agencies.

"Tether not only subjects all customers to initial market analysis, but also conducts strict verification," Paolo Ardoino added.

According to statistics from analytics platform Dune, over the past time, Tether has blocked around 460 million USDT from 877 addresses.

Tether recently released data for the first three months of 2023, and it looks like its net income was $1, 48 billion. Paolo Ardoino mentioned in April that the company holds about $1, 6 billion in reserves to secure its USDT stablecoin.

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