Tether CTO Paolo Ardoino announced that over 325 million USDT has been redeemed today, while emphasizing the importance of adhering to the rules of the fiat currency system, including proper KYC/AML compliance.
In a recent tweet, Tether's Chief Technology Officer Paolo Ardoino confirmed that more than 325 million USDT has been redeemed today. Addressing concerns from users regarding the lengthy and complex redemption process, which necessitates numerous documents, Ardoino emphasized the significance of ensuring proper Know Your Customer (KYC) and anti-money laundering (AML) reviews before accepting customers due to Tether's reliance on strong banking partners.
Ardoino further explained that although Bitcoin is decentralized, USDT is a centralized stablecoin using a decentralized transport layer, and therefore, individuals seeking to redeem fiat currency must adhere to the rules of the fiat currency system.