Tether to Increase Visibility and Reduce Control of Cryptocurrency Payments Used in Child Abuse Content Marketplace in Partnership with INHOPE
Tether and INHOPE, the global network to combat child sexual abuse online media (CSAM), have partnered to develop standard practices for the crypto industry to keep criminals out of the crypto ecosystem. Pto
Tether’s chief technology officer, Paolo Ardoino, said the company is working with law enforcement. Financial Intelligence Unit legislative branch and standards-setting bodies around the world to create “Proper Risk Control Mechanism”
“We want to develop the capabilities of crypto businesses to be able to identify transfers related to the online CSAM marketplace and report them to the authorities.”
INHOPE has been operating since 1999 with a network of hotlines for communication. This includes all EU member states, Russia, South Africa, North and South America, Asia, Australia and New Zealand.
The partnership comes as Tether seeks to combat the illicit use of cryptocurrencies, especially for children.
INHOPE partner Samantha Woolfe said there had to be new ways to combat CSAM, which would require disclosure of important information and effective methods.