Tether Will Freeze Wallets Evading Venezuelan Sanctions
Use of Tether has increased in Venezuela after the U.S. reimposed sanctions on oil exports.
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Use of Tether has increased in Venezuela after the U.S. reimposed sanctions on oil exports.
Venezuela’s state-run oil company started experimenting with Tether in 2023.
Circle Internet Financial would have a distinct advantage over global stablecoin leader Tether under U.S. regulations along the lines being suggested by new legislation, according to one of the latest bill’s authors, Sen. Cynthia Lummis (R-Wyo.).
The action may foreshadow regulatory restrictions in the region for the largest stablecoin by market capitalization and trading volume, as upcoming E.U. rules will require stablecoin issuer to be licensed electronic money institutions.
USDT, a stablecoin issued by Tether, hit the $100 billion market value for the first time in its history, according to CoinGecko data, as the rally on crypto markets expanded.
Christopher Harborne and his aviation fuel broker AML Global were wrongly accused of “committing fraud, laundering money, and financing terrorists,” according to the lawsuit.
Following the success of Tether and USDC, a generation of stablecoins are offering new features for investors and holders, says Scott Sunshine, Managing Partner of Blue Dot Advisors.
The stablecoin issuer announced in May 2023 that it would start buying bitcoin in an effort to diversify the backing of its USDT stablecoin.
Speaking at Davos, the Cantor Fitzgerald CEO says the stablecoin issuer has the money to back USDT. Maybe it’s time we all started to believe in Tether, despite the “truthers”?
Tether, the issuer of the largest stablecoin by market cap, has challenged the United Nations (UN) for its report on underground banking and money laundering infrastructure in East and Southeast Asia.