- Regardless of Tether’s lively assist of regulation enforcement, the blockchain trade continued to face criticism.
- The agency has been on the forefront of investigations, having collaborated with 31 companies throughout 19 completely different jurisdictions.
Tether [USDT] not too long ago froze 32 addresses tied to illicit exercise in Israel and Ukraine, containing a complete quantity of $873,118.34. The stablecoin agency partnered with the NBCTF in Israel to fight cryptocurrency-driven terrorism and warfare.
Tether has been on the forefront of investigations, having collaborated with 31 companies throughout 19 completely different jurisdictions, aiding within the freezing of $835 million in belongings.
The frozen funds have been predominantly related to theft, together with blockchain and alternate hacks, with a smaller portion linked to different crimes.
Skepticism to blockchain stays
Regardless of Tether’s lively assist of regulation enforcement, the blockchain trade continues to face criticism and skepticism from some journalists and detractors.
Nevertheless, Paolo Ardoino, the CEO of Tether, made a robust assertion, emphasizing the cryptocurrency trade’s stance in opposition to illegal use. He stated,
“Cryptocurrency is a robust device, however it isn’t a device for crime. Opposite to well-liked perception, cryptocurrency transactions are usually not nameless; they’re essentially the most traceable and trackable belongings. Each transaction is recorded on the blockchain, making it possible for anybody to hint fund actions. Consequently, criminals silly sufficient to make use of cryptocurrencies for unlawful actions will inevitably be recognized.”
Ardoino additional acknowledged,
“Tether stays dedicated to selling accountable blockchain expertise use and standing as a strong protection in opposition to cybercrime. We eagerly anticipate continued collaboration with world regulation enforcement companies as a part of our dedication to world safety and monetary integrity.”
Binance joins the fray
In the meantime, the Monetary Occasions reported that Israeli regulation enforcement authorities have ordered the closure of over 100 cryptocurrency accounts on Binance [BNB] and are investigating greater than 200 extra crypto accounts, primarily held on the alternate as nicely.
Final week, Israeli authorities collaborated with Binance to freeze a number of accounts believed to be linked to Hamas. These frozen accounts have been actively looking for donations by social media, and their actions aimed to disrupt these funds.
