Tether Announced Its Willingness to Cooperate with the FBI and US Secret Service

Tether cooperates with the FBI and the US Secret Service

Tether is the company behind the largest stablecoin in the cryptocurrency market, USDT. They sent letters to the Senate Banking Committee and the US House of Representatives Financial Services Committee expressing their commitment to “willingness to cooperate closely with law enforcement agencies”.

In the letter, Tether CEO Paolo Ardoino said the company has recently frozen many wallet addresses containing USDT on the sanctions list of the Office of Foreign Assets (OFAC) of the US Department of Treasury. Tether also claimed to have assisted the Department of Justice, the Federal Bureau of Investigation (FBI) and the US Secret Service in freezing 326 crypto wallets containing 435 million USDT.

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Tether also affirmed that it will continue to support US authorities in the fight against financial crimes and terrorist financing through cryptocurrency. Tether also supports identity verification (KYC) and anti-money laundering (AML) measures.

Paolo Ardoino commented:

Tether is willing to address the concerns raised by US lawmakers and is committed to continuing to work closely with US and world officials. Tether looks forward to being a partner US cooperation to continue to support law enforcement agencies and increase the dominance of the US dollar globally.

According to previous information, since early December 2023, Tether has implemented many measures to block cryptocurrency wallets. Tether has blocked 161 wallets sanctioned by OFAC and a series of wallets containing up to 225 million USDT of many criminal organizations.