Tether CEO Details Partnership with FBI and Secret Service in Letter to Legislators
Tether, the company responsible for the USDT stablecoin, has made public letters it sent to the U.S. Senate Committee on Banking, Housing, and Urban Affairs and the U.S. House Financial Services Committee, underscoring its dedication to security and close cooperation with law enforcement agencies.
In one of the recent letters, Tether CEO Paolo Ardoino, who recently assumed leadership, emphasized the company’s decision to disable Tether tokens held in wallets associated with the Office of Foreign Assets and Controls (OFAC) sanction list.
Tether claims to have assisted the Department of Justice, U.S. Secret Service, and Federal Bureau of Investigation (FBI) in freezing 326 wallets controlling a total of 435 million USDT.
However, it seems that the latest frozen wallets contain a smaller number of tokens than the aforementioned sum.
Ardoino also disclosed that Tether has recently onboarded the United States Secret Service onto its platform and is in the process of doing the same with the FBI.
These partnerships underline Tether’s commitment to collaborating with law enforcement agencies to ensure the integrity and security of its operations.
The letters were specifically addressed to Senator Cynthia Lummis, a well-known proponent of cryptocurrencies within the Senate, and were also sent to the chairs and ranking members of the aforementioned committees.
Tether’s communication with legislators aims to provide transparency regarding its interactions with law enforcement and its efforts to comply with regulatory standards.
Last week, Tether froze the wallets of individuals sanctioned by the U.S. Office of Foreign Asset Controls (OFAC).
At the time, the company said it aims to prevent potential misuse of its
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