Stablecoin issuer Tether announced the implementation of a voluntary wallet-freezing policy.
Tether has frozen 41 wallets controlled by individuals the United States has sanctioned since December 1. These individuals were suspected of engaging in cryptocurrency transactions related to illicit activities, despite no directive from government authorities. in the US, regulators have been cracking down on crypto businesses, citing concerns that the technology facilitates fraud, scams, and the financing of illicit activities. Tether says that this new policy is a proactive measure that will foster closer collaboration with regulators and law enforcement agencies.