Tether Partners with Chainalysis to Enhance Monitoring of USDT Secondary Market

As of my last update in January 2022, Tether has partnered with Chainalysis to enhance its monitoring capabilities in the secondary market for its stablecoin USDT. The collaboration aims to provide tools for Tether to identify and track illicit activities, including transactions involving sanctioned entities and potential terrorism financing. Tether CEO Paolo Ardoino emphasised the importance of transparency and security within the cryptocurrency industry, stating that the collaboration with Chainalysis reinforces their commitment to safeguarding against illicit activities. Despite efforts to address concerns about its role in criminal activities, Tether has faced criticism and scrutiny, including allegations of facilitating violations of sanctions laws and concerns raised by United States Senator Cynthia Lummis regarding its involvement in specific incidents.