More than a year after publicly refusing to bend to the US Office of Foreign Assets Control, stablecoin issuer Tether is getting on board with sanctions compliance.
Tether over the weekend said it would be expanding its security protocols to freeze wallets associated with US-sanctioned individuals and entities. Starting this month, the stablecoin issuer has offered secondary market controls by freezing tokens held in wallets separate from its own platform, the company said in a statement.
“The primary objective behind this approach is to proactively prevent any potential misuse of Tether tokens and enhance security measures,” Tether wrote in the Dec. 9 blog post.
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