Tether Enhances Monitoring Features for USDT Stablecoin Transactions
Tether company has announced the launch of new features to track transactions with its USDT stablecoin on the secondary market. These innovations are aimed at improving market monitoring and identifying wallets associated with illegal activities and sanctions evasion.
To achieve these goals, Tether will use four key tools. The first tool is designed for sanction monitoring to ensure that transactions comply with international requirements. The second tool will identify illegal transfers, enabling the company to promptly respond to suspicious activities. The categorization tool will classify USDT holders into categories, for example, determining which ones represent crypto exchanges and which may be linked to the dark web. The fourth tool will focus on analyzing the activity of large wallets to understand the behavior of major stablecoin holders.
Tether’s CEO Paolo Ardoino noted that the company’s collaboration with Chainalysis will be a significant step towards ensuring transparency and security in the cryptocurrency industry. He emphasized that the new tools will enhance Tether’s efforts to protect the ecosystem from illegal activities.
Furthermore, Tether has reported active cooperation with authorities from 43 countries to track and prevent illegal USDT transactions. Despite these efforts, the company is often accused of aiding sanctions evasion, particularly in assisting Russia. It was recently revealed that Tether has frozen over $1 billion in USDT on crypto wallets, underscoring its determination to combat illegal activities.
These new measures are intended to strengthen control over USDT transactions and contribute to a safer and more transparent functioning of the cryptocurrency market.
