Tether (USDT), the US stablecoin issuersaythat it will not suspend smart contract addresses sanctioned by the US Office of Foreign Assets (OFAC) on Tornado Cash’s Specially Designated Nationals and Persons (SDN) list.
“So far OFAC has not stated that stablecoin issuers are required to withhold wallet addresses published on OFAC’s SDN listing or operated by OFAC-approved individuals and entities. or US regulators send such request Although we are in contact with US law enforcement almost every day.”
Tether points out that unilaterally freezing the smart contract’s wallet or address could be an overly reckless move, as “it could alert a suspect about an imminent law enforcement investigation. and causing the sale of collateral or the abandonment of funds and it is dangerous to collect additional evidence.”
All US individuals and entities are prohibited from interacting with Tornado Cash’s SDN smart contract and Ethereum smart contract addresses and are subject to severe criminal penalties for infringement. However, Tether does not employ US individuals as clients or operate. business in usa Even if voluntarily complying with US regulations as part of compliance.
Tether also pointed out that other US-based stablecoin issuers, such as Paxos and Dai, have not announced the suspension of the Tornado Cash wallet despite the sanctions taking effect on Aug. 8.
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