Tether Introduces New Initiative To Promote Stablecoin Adoption

On December 9,USDT  provider, announced an initiative it claimed would safeguard the cryptocurrency ecosystem. The latest announcement is a follow-up to an earlier decision by the company to introduce a wallet-freezing policy that would help to combat activities connected with Sanctioned persons on the Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) List.

According to Tether, the new policy is part of efforts to foster a secure and reliable environment for users worldwide. By this implementation, Tether would now offer on the secondary market the Sanctions controls it already enforces for wallets on its platform. The company considers the new policy a proactive effort to enable it to work more closely with global regulators. 

He believes it would expand their close working relationship with law enforcement agencies and regulators.

Ardonio believes that by executing voluntary wallet address freezing of new additions to the SDN List and freezing previously added addresses, Tether will be able to further strengthen the positive usage of stablecoin technology and promote a safer stablecoin ecosystem for all users.