On Jan. 2, the T3 Monetary Crime Unit (T3 FCU), a collaboration between Tether, Tron, and TRM Labs, introduced that it had handed “a big milestone in its combat towards cryptocurrency-related monetary crime.”
The unit, launched in August 2024, has labored carefully with international regulation enforcement businesses to “efficiently intervene in circumstances involving cash laundering, funding fraud, blackmail operations, terrorism financing, and different severe monetary crimes,” it acknowledged.
Freezing Prison Property
“By working carefully with authorities throughout jurisdictions, Tether has been instrumental in freezing felony property and making certain that dangerous actors don’t exploit stablecoins like USDT,” mentioned Paolo Ardoino, CEO of Tether.
“Criminals now have 100 million causes to suppose twice earlier than utilizing TRON,” mentioned Justin Solar, founding father of the Tron community, who added:
“T3 FCU’s speedy success in freezing felony property sends an unmistakable message: when you’re utilizing USDT on TRON for crime, you’ll be caught.”
T3 Monetary Crime Unit Marks Enforcement Victory: $100 Million in Prison Property Frozen Throughout 5 Continents
Learn extra: https://t.co/HReVLYRfxz— Tether (@Tether_to) January 2, 2025
The T3 Monetary Crime Unit has already analyzed tens of millions of transactions throughout 5 continents, monitoring over 3 billion in USDT quantity, based on the announcement.
Chris Janczewski, head of worldwide investigations at TRM Labs, mentioned surpassing 100 million USDT in frozen property is only the start.
“In 2025 and past, as increasingly lawful customers enter the rising crypto ecosystem, it’s extra vital than ever to maintain it secure. T3 is devoted to that mission.”
Are Tether’s EU Woes About to Deepen?
Tether’s market capitalization has began to shrink for the primary time since late 2022, having fallen by 3 billion USDT from its peak of round $140 billion in mid-December.
The decline in provide could also be because of deepening issues in Europe as its restrictive Markets in Crypto-Property (MiCA) laws have been activated, elevating uncertainty about USDT’s standing on exchanges within the bloc.
The implementation of MiCA in Europe on Dec. 30 has created an unsure future for stablecoin issuers equivalent to Tether for the reason that laws don’t make clear whether or not USDT is compliant.
Nevertheless, Ardoino dismissed the issues as FUD earlier this week because the agency added $700 million price of Bitcoin to its treasury. “Don’t imagine the FUD,” he mentioned earlier than including, “Opponents are simply determined to make you imagine issues that don’t exist.”
Binance Free $600 (CryptoPotato Unique): Use this hyperlink to register a brand new account and obtain $600 unique welcome supply on Binance (full particulars).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this hyperlink to register and open a $500 FREE place on any coin!