based on materials from the site - By Coincu
1.6 million US dollars frozen in connection with a terrorism financing investigation
The company Tether Holdings Ltd., led by CEO Paolo Ardoino, collaborated with US authorities to freeze and reissue 1.6 million US dollars related to BuyCash, a financial organization from the Gaza sector suspected of terrorist links. This measure is part of a broader civil forfeiture case. The US Department of Justice leads this initiative, focusing on financial activities associated with terrorism. Tether emphasized its strict compliance policy and ongoing support for law enforcement in various jurisdictions.
The immediate consequences of this intervention are the blocking of potential financial channels used for terrorist activities. Tether's cooperation demonstrates a significant commitment from centralized structures to combat financial crimes in the crypto space. The success of the operations confirms Tether's statement regarding transaction transparency and readiness to actively engage with regulators. The community's response to these actions includes approval of Tether's role in ensuring compliance; however, concerns about centralized control remain. CEO Paolo Ardoino highlighted the transparency and traceability of USDT in supporting international law enforcement efforts, which distinguishes the company from other stablecoin operators.
"USDT transactions are traceable, and we strive to assist law enforcement agencies worldwide while maintaining the integrity of the digital asset ecosystem." — Paolo Ardoino, CEO of Tether
Tether's compliance is strengthened against the backdrop of a global asset freeze amounting to 2.9 billion US dollars
Did you know? The freeze of Tether assets of 1.6 million US dollars related to the Gaza sector is part of a series of enforcement measures, within which more than 2.9 billion US dollars have been frozen to date, demonstrating the crucial role of centralized organizations in ensuring financial compliance.
According to CoinMarketCap, the price of USDT (Tether) is maintained at 1 US dollar with a market capitalization of approximately 162.62 billion US dollars and a daily trading volume of 149.03 billion US dollars. Price dynamics over various periods show an increase of 0.03% over 24 hours and a slight increase of 0.01% over 30 days. These figures reflect minor fluctuations, confirming USDT's status as a stable crypto asset.
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