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Tether Freezes $12.3M on Tron Amid Crypto Crime Crackdown
- Tether freezes $12.3 million worth of digital assets on the Tron blockchain, potentially due to AML or sanctions concerns.
- The enforcement is part of Tether's efforts to combat illicit activities in the crypto space, with active monitoring and freezing assets tied to high-risk transactions or criminal activity.
- Tether's asset-freezing authority is driven by the T3 Financial Crime Unit, responsible for freezing over $126 million in illicit crypto assets since late 2024.
- Tether aligns its policies with U.S. Treasury's OFAC, targeting digital wallets associated with sanctioned individuals and entities, including terrorism financing.
- In a similar move, Tether froze $27 million in USDT on the Russian-linked crypto exchange Garantex following EU sanctions against Russia.
- Tether has also taken action against cybercrime, blacklisting $374,000 in USDT tied to the North Korean Lazarus Group involved in laundering stolen crypto.
- Aside from enforcement, Tether acquired a 32% equity stake in a Canadian gold royalty firm, Elemental Altus Royalties, for $89.4 million USD, aiming to diversify its asset base.
- Tether's strategic investments in real-world assets like gold and Bitcoin demonstrate its vision of building a resilient digital economy anchored by tangible value.
- With the increasing regulatory scrutiny, Tether's approach combining financial crime prevention and asset diversification could set a precedent for stablecoin governance.
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