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Tether has affirmed it will not be blockchain addresses linked to Tornado Cash unless explicitly asked to do so by the government.

Stablecoin issuer Tether has revealed that it will not freeze USDT tokens in U.S.-sanctioned Tornado Cash addresses. The Hong Kong-based company noted that the USDT would only be frozen if the appropriate authorities instructed them to do so.

The firm has not yet been instructed by law enforcement to freeze Tornado Cash addresses.

Tether said that it complies with OFAC requests to freeze addresses, but hasn't received one pertaining to the popular mixing service. 

Stablecoin company Tether says it's under no obligation to follow U.S. sanctions against Tornado Cash. Only time will tell whether it's true.

The U.S Treasury Department sent shockwaves across the cryptoverse earlier this month when it added Ethereum mixer Tornado Cash to the Specially Designated Nationals list, meaning U.S persons face criminal penalties if they use the anonymizing tool.

While the crypto community is still talking about the U.S. government banning the ethereum mixing platform Tornado Cash, the stablecoin issuer Tether Holdings Limited revealed on Wednesday that the company would not “freeze Tornado Cash addresses.” Tether's recently published blog post about the subject says the company is waiting for instructions from law enforcement.

"In our dealings with law enforcement we are sometimes specifically instructed not to freeze addresses as this could alert suspects," says Tether.

Tether issued a statement explaining why it is not freezing wallet addresses linked to Tornado Cash. The post Tether says it's not freezing Tornado Cash until government tells it to appeared first on The Block.

The stablecoin issuer sees a freeze of secondary Tornado Cash addresses as premature, and awaits more clarity from U.S. authorities.

The stablecoin issuer has yet to receive a request to freeze Tornado Cash-affiliated accounts, but hinted it would comply if it did.

Tether, the world's largest stablecoin by market cap, may be in violation of United States Treasury sanctions on Tornado Cash, according to the Washington Post. The post Tether may be in violation of US sanctions on Tornado Cash appeared first on CryptoSlate.

Though cryptos have enjoyed significant momentum over the past several weeks, recent weariness may be a cause for concern.

When top stablecoin issuer Tether announced on Thursday (Aug.

BDO Italia has reaffirmed stablecoin issuer Tether's consolidated reserves report that showed a 58% quarterly decline in commercial paper holdings to $8.5 billion as of June 30. "The Hash" hosts discuss the BDO report and what it suggests about Tether and the current state of stablecoins.

Bitcoin (CRYPTO: BTC) has fallen by over 10% since Friday, currently trading at around $20,900 and back below the 200 weekly MA (which is at around $23,100). Some believe that the significant sell-off on Friday was caused by Celsius Network, who are bankrupt, receiving approval to sell mined Bitcoin to cover their operations.

Although cryptos appear to be turning around in recent weeks, investors still need to be cautious in case another correction is coming.

Tether announced that it is now collaborating with BDO Italia to increase the transparency of the USDT stablecoin. As a result of the agreement, Tether will publish its proof-of-reserve report on a monthly basis.

Stablecoin issuer Tether has tapped BDO Italia to take over from MHA Cayman on its regular attestation reports. It said it plans to publish the reports every month rather than once a quarter.

This week, the stablecoin issuer Tether Holdings Limited revealed an update to its assurance and attestation process and detailed that the company has been working with accounting firm BDO Italia. The accounting firm will conduct monthly tether assurance reports based on the stablecoin issuer's reserves.

In accordance with promises it made earlier this year, top stablecoin issuer Tether (USDT) has begun to slash its commercial paper holdings. In the second quarter of 2022, Tether reduced its commercial paper holdings from $20 billion to $8.5 billion, a decrease of more than 58%, according to a new report from the company.

Tether total asset value decrease compared to 2021, which comes following the demise of Terra and its ecosystem. Because of this, there is a significant drop in trust in stablecoins, particularly Tether.

Following the collapse of Terra and its ecosystem, there is a considerable reduction of confidence in stablecoins, especially Tether. Most participants in the crypto space have increased doubts about the level of stability with stablecoins.

XT.com, the world's first social-infused digital asset trading platform, is delighted to announce that it will soon list the Redlight Finance (REDLC) coin on August 20, 2022, at 13:00 (UTC). REDLC/USDT is the available trading pair that will be onboarded under the exchange's Main Zone (Metaverse).