In recent letters directed to United States lawmakers, Tether disclosed it has a Know Your Customer (KYC) program, a transaction monitoring system and a proactive approach to identifying suspicious accounts and activities.
“We have always assisted law enforcement when called upon to act, and we remain fully committed to continuing to work proactively with agencies globally. Tether has and will assist in identifying and freezing addresses subject to sanctions, engaged in illicit activity, or engaged in any form of terrorist financing.”
Tether also disclosed it uses surveillance monitoring tools to continuously track client activity, and onboarded the Federal Bureau of Investigation (FBI) to its platform as part of collaboration efforts with law enforcement. Tether said:"These strategic relationships reinforce our commitment to supporting law enforcement in combating nefarious activities and contributing to the recovery of victims’ funds."
Tether announced on Dec. 9 that it had initiated a voluntary wallet-freezing policy, offering secondary market controls to freeze activity connected with sanctioned persons on the United States Office of Foreign Assets Control Specially Designated Nationals List.
Policy and Regulation
Tether
