Tether, the stablecoin issuer, has announced a partnership with blockchain forensics firm Chainalysis to enhance its compliance measures and monitor secondary market activities. This collaboration aims to develop a customizable solution for identifying crypto wallets potentially involved in illicit activities such as bypassing sanctions or financing terrorism. The initiative is part of Tether's broader effort to address regulatory pressures and combat illicit finance within the cryptocurrency market.
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🔥Tether and Chainalysis will develop a solution for monitoring the secondary market According to the press release, this refers to "transactions taking place within the broader $USDT ecosystem beyond limited liability organizations that directly buy and sell the stablecoin."… https://t.co/4eIvzIL2Ov
When stablecoins begin to actively police so-called "secondary market activity" it's a tacit admission of liability for all transfers on their platforms, not just redemptions and withdrawals. It starts with Chainalysis monitoring but won't end until full KYC is implemented. https://t.co/Eneb0CcqUQ
Stablecoin issuer Tether has announced a partnership with blockchain forensics firm Chainalysis to develop a tool for monitoring secondary market activity https://t.co/xbww6atduG
Stablecoin Tether steps up monitoring in bid to combat illicit finance https://t.co/Mj6X0ksYon https://t.co/2dIqUyVLk0
Remember when Binance partnered with Chainalysis in October 2018, and then proceeded to launder billions of dollars for criminals and terrorists? Good news everyone, Tether is now partnering with the same company, Chainalysis! Same energy. Same result, it's all for show. https://t.co/CiFyc8yqCy
Tether says it is working with Chainalysis to identify crypto wallets that could be used for bypassing sanctions or illicit activities like terrorist financing (@sndr_krisztian / CoinDesk) https://t.co/QzQ73lfZEU 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/suPKRLmWvb
With regulatory pressure quickly ramping up, @Tether_to has teamed up with @Chainalysis for transaction surveillance. @sndr_krisztian reports https://t.co/jGd57ZTOin
Tether Enhances Compliance Measures with Chainalysis Ecosystem Monitoring Solution. Tether has collaborated with @chainalysis, the blockchain data platform to develop a customizable solution for monitoring secondary market activity. Read More https://t.co/8r5NwJmL5q