The business behind the USDT stablecoin, Tether, has made public letters it wrote to the US House Financial Services Committee and US Senate Committee on Banking, Housing, and Urban Affairs, highlighting its commitment to security and close collaboration with law enforcement.Tether CEO Paolo Ardoino, who took over the company’s leadership lately, highlighted in one of the company’s recent letters its decision to disable Tether tokens kept in wallets linked to the Office of Foreign Assets and Controls (OFAC) sanction list.Tether says it helped the Federal Bureau of Investigation (FBI), U.S. Secret Service, and Department of Justice freeze 326 wallets that held 435 million USDT in total.
Nevertheless, it appears that the most recent frozen wallets hold fewer tokens than the previously reported amount.Additionally, Ardoino revealed that Tether has just welcomed the US Secret Service and is in the process of doing the same for the FBI on its platform.These alliances demonstrate Tether’s dedication to working with law enforcement organizations to protect the security and integrity of its business operations.
Sen. Cynthia Lummis, a prominent cryptocurrency supporter in the Senate, was the intended recipient of the letters, which were also forwarded to the ranking members and chairs of the committees stated above.Through its engagement with law enforcement and its efforts to adhere to regulatory requirements, Tether hopes to provide transparency in its communications with lawmakers.