Tether, a company behind the USDT stablecoin, has blacklisted an address that had over $1 million in USDT. Tether banned an Ethereum address by calling the "AddedBlacklist" function on December 30. As of press time, the address is holding $1,246,739 in various tokens, including LINK, FTM and MANA.
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This is not the first time Tether bans accounts. In 2020, the issuer of popular stablecoin banned 39 Ethereum addresses with millions of dollars in USDT. The company blacklisted a total sum of 560 addresses so far.
Last year, Tether entered into a partnership with Notabene, a service designed to share travel rule compliance, to comply with the FATF recommendations. The company said the initiative is focused on combating money laundering and crime in cross-border cryptocurrency transactions.
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