Tether has announced a strategic partnership with Crystal Intelligence, a blockchain analytics company, to combat stablecoin misuse and illicit activities in the crypto industry.
The partnership aims to enhance fraud detection, regulatory intelligence solutions, and mitigate risks associated with illicit stablecoin use, as the crypto industry has seen a rise in such activities.
Tether's CEO, Paolo Ardoino, emphasized the company's commitment to supporting law enforcement agencies, tracing fund movements in real-time, and freezing unlawful funds to ensure a more secure crypto ecosystem.
While Tether has been actively involved in combatting illicit on-chain activities, it has faced controversies and investigations, with the recent partnership reflecting a joint effort to future-proof the industry through actionable insights and innovation.