Tether announces wallet-freezing policy for OFAC-sanctioned persons
Tether is expanding control sanctions to the secondary market in an effort to cooperate with regulators in the United States.
Stablecoin issuer Tether has announced another step toward cooperation with law enforcement and regulatory agencies by initiating a voluntary wallet-freezing policy, according to a blog post on Dec. 9.
Since Dec. 1, Tether has been offering on the secondary market controls to freeze activity connected with Sanctioned persons on the United States Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) List. Companies and individuals controlled or owned by sanctioned countries are included on the list.
According to Tether, the policy will supplement existing security protocols and is a “proactive effort to work even more closely with global regulators and law enforcement agencies.”
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