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Tether (USDT), a stablecoin, has made a statement about calls to the US Department of Justice about illegal use of USDT. In its letters to the members of the US Senate Banking, Housing and Urban Affairs Committee and the House Financial Services Committee on November 16 and December 15, the company thoroughly explained its determination on this matter.
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It is pointed out in the letters sent by the company that responses were given especially to the calls of Senator Cynthia Lummis and Representative French Hill in October. In these calls, the Department of Justice was requested to evaluate Tether’s role in supporting terrorism.
The statements of the parliament members came into the agenda especially with the claim that the attack on Israel on October 7 was partially financed by cryptocurrency transactions.
In the company’s letters, emphasis was placed on the company’s KYC program and proactive approach to detect suspicious accounts. Additionally, the commitment to assist law enforcement and cooperate with institutions worldwide was expressed. The wallet freezing policy, initiated on December 9, includes the commitment to freeze the wallets of individuals on the OFAC’s SDN list.
Tether (USDT) ‘s CEO Paolo Ardoino stated that “While Tether continues to assist law enforcement agencies and extend dollar dominance globally, it aims to be a first-class partner of the US.”
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