Tether announces wallet freezing policy against US OFAC sanctions list, covering secondary market

Odaily News According to official news, Tether announced a latest initiative aimed at protecting the cryptocurrency ecosystem. On December 1, 2023, the company decided to launch a new voluntary wallet freeze policy to combat activities related to sanctioned persons on the Office of Foreign Assets Control (OFAC) SDN list, companies and individuals controlled or owned by sanctioned countries Also on the list. Tether is taking further proactive steps to complement existing security protocols by implementing this policy. Tether will now offer the policy on the secondary market and has already implemented sanctions controls for wallets on its platform. This initiative is an aggressive effort to work more closely with regulators and law enforcement agencies around the world to protect the use of stablecoins. To comply with this policy, Tether has taken extra precautions, including freezing wallets previously added to the SDN list.