Tether freezes the wallets of people sanctioned by the US Treasury's OFAC to stop “potential misuse” of its tokens, one of its new CEO's first significant moves

The Block 2023-12-11 Zack Abrams

@austin_federa Austin Federa on x
The case for fully compliant payment stablecoins, like Circle, Paxos, and GMO are building, has never been stronger.
@occamicrypto @occamicrypto on x
For all the crypto maxis pulling out their hair, I will again note that a stablecoin requires connectivity to TradFi. That means compliance is not an option. Paolo's past bull shit suggesting Tether is beyond the reach of the US authorities is collapsing around his ears.
@harri_obi Harri on x
Something something regulatory proof something something.
@jp_koning John Paul Koning on x
In 2022, Tether was adamantly against the idea of freezing OFAC-sanctioned wallets, describing any sort of blacklisting of secondary market addresses as “disruptive and reckless.” In a u-turn, Tether will now start freezing wallets on OFAC's list: https://tether.to/... [image]
@danhwang88 Daniel Hwang on x
Wow this isn't something I thought id ever read
@zekefaux Zeke Faux on x
Tether just announced they'll freeze sanctioned wallets.... So what were they doing before? https://tether.to/...

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