Tether launched monitoring tools for illegal financing
Tether Limited has increased monitoring of how its tokens are used in cryptocurrency markets and in payments. To combat illegal financing, tools have been created that allow identifying transactions and analyzing the activities of the main token holders.

Tether Limited and analytics firm Chainalysis have launched new tools to identify transactions associated with sanctioned entities and analyze the activities of major Tether token holders.
Last month, Reuters reported that Venezuela's state oil company PDVSA plans to increase the use of Tether in oil and fuel exports. In turn, Russian intermediaries used stablecoins to circumvent Western sanctions in order to supply parts for aircraft.
However, Tether noted that the new monitoring tools are not related to these situations. A company spokesperson said: “Tether has been using Chainalysis data as the basis for investigations and compliance work for several years.”
Previously, Tether stated that every action with cryptocurrency is monitored online and every asset can be confiscated, and every criminal can be caught.
Tether has grown rapidly in recent years, reaching $100 billion in circulation. This growth was driven by the use of cryptocurrencies in emerging markets as an alternative to the dollar. Stablecoins can be used as a form of payment and can also be converted into other tokens such as Bitcoin when trading on crypto exchanges.
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