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Chinese authorities have announced the dismantling of a major underground banking syndicate accused of enabling illicit transactions valued at nearly $2 billion using Tether (USDT).
Oobit, a mobile payment app, is set to streamline transactions involving Tether's USDT and Tether Gold (XAUt) on The Open Network (TON).
The Chinese police arrested 193 suspects across 26 provinces in connection with the underground USDT operation.
A major development in cryptocurrency transactions is taking place as The Open Network (TON) incorporates the Oobit mobile payment app. According to Tether's press release, this integration is a big step forward in simplifying transactions with the company's USDT and XAUt, Tether Gold, offering merchants a notably improved user experience.
TL;DR Strategic Partnership: Tether Operations Limited has partnered with Oobit and the TON Foundation, aiming to redefine cryptocurrency payments as a mainstream means of transaction. This collaboration represents a significant step forward in the adoption of digital currencies. Seamless Transactions: The partnership seeks to offer users a seamless and convenient transaction experience.
Tether, the largest stablecoin company, unveiled its new partnership with Oobit, a mobile payment app, and the TON Foundation on Friday. This collaboration aims to change the cryptocurrency payments industry by giving users a smooth and simple way of transferring money.
Recently, Tether launched USD₮ and XAU₮ on TON, facilitating smooth transfers within TON's ecosystem. This move aims to streamline processes, ensuring swift, secure, and cost-effective transactions for users worldwide.
Despite China's strict ban on crypto, Chinese traders are among the largest stablecoin holders in the world.
The Open Network users will be able to use Oobit's Tap & Pay technology to pay merchants in fiat while spending USDT.
Tether Operations Limited, Oobit, and TON Foundation collaborate to revolutionize crypto payments, offering a seamless transaction experience.
The authorities destroyed two underground operations in Fujian and Hunan, and the police also froze 149 million yuan worth $20 million linked to the USDT banking operations.
Tether (USDT), the world's leading stablecoin issuer, recently made a decision to freeze $5.2 million worth of USDT, which was tied to scams.
Police in China have busted an underground bank that conducted foreign currency exchanges using USDT.
Chinese law enforcement agencies have announced a breakthrough in their fight against illegal financial activities. They have dismantled a large underground banking gang allegedly involved in facilitating illegal transactions using Tether's USDT stablecoin.
Tether Operations Limited, the largest company in the digital asset industry, announces the signing of a Memorandum of Understanding (MoU) with RAK Digital Assets Oasis (RAK DAO), which is the first step towards the launch of several strategic initiatives to help foster the adoption of
Ripple CEO Brad Garlinghouse recently hinted at potential regulatory action by the US government against Tether (USDT) in the cryptocurrency sector.
Binance Futures has launched a new Funding Rate Arbitrage Bot, offering users the opportunity to share in a 50,000 USDT prize pool.
The police highlighted two prominent cases, one of which involved a smuggling network that masqueraded as a bank in the Sichuan region.
It's not exactly the news that investors of cryptos to watch wanted to hear.
Yesterday Tether, the world's largest stablecoin issuer, identified and blocked 12 crypto addresses with a total value of 5.2 million USDT, after detecting suspicious origins from fake phishing attempts. With this move, the company based in the British Virgin Islands reaffirms its commitment and dedication to fighting scams and illicit activities in the crypto sector.
Stablecoin issuer Tether has taken action by freezing $5.2 million worth of its stablecoin, Tether (USDT), following its connection to phishing scams.
Chinese police in Sichuan reportedly intensified crackdowns on underground banking networks, with a particular focus on USDT transactions totaling billions of U.S. dollars.
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To combat illicit financial activities, Tether, the entity behind the world's largest stablecoin by market capitalization, has frozen approximately 5.2 million USDT. The crypto tracking and compliance platform MistTrack detailed this action, which targeted 12 Ethereum addresses identified as part of phishing operations.
