Tether, the issuer of the stablecoin USDT, has just announced it intends to block wallets whose owners are under OFAC sanctions.
In compliance with this policy, Tether has taken additional precautionary measures, including freezing wallets previously added to the SDN (Specially Designated Nationals) list.
According to the press release shared by the company, the goal of the measure is to protect the crypto ecosystem and create a secure user environment worldwide.
The statement reads:
"The primary objective behind this approach is to proactively prevent any potential misuse of Tether tokens and enhance security measures."
Paolo Ardoino, CEO of Tether, has said:
"This strategic decision aligns with our unwavering commitment to maintaining the highest standards of safety for our global ecosystem and expanding our close working relationship with global law enforcement and regulators."