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Tether to test AML compliance platform after $41M penalty and FUD
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2021 has been a year of both milestones and controversies for Tether [USDT]. In October, Tether crossed $70 billion in market cap, pushing it into the list of the market’s top five cryptocurrencies. And yet, with the Evergrande debt crisis and the CFTC’s scrutiny, the Hong Kong-based stablecoin had todeal with FUD about its holdings – yet again.
Now, however, Tether is in the news thanks to a new platform it will be testing.
On 26 October, Tether Operations Limited announced that it would be testing the Notabene platform in order to ensure compliance with the new crypto Travel Rule.
Set down by the Financial Action Task Force [FATF], the Travel Rule makes it clear that Virtual Asset Service Providers or VASPs must carry out KYC processes for
Read more on ambcrypto.comAbout this in other media
Two firms account for the majority of Tether received: Report cointelegraph.com /3 years ago
Twitter Launches Twitter Crypto: Here’s How the Company Got There cryptonews.com /3 years ago
Cryptocurrency Prices Today: Bitcoin, Polkadot fall, Tether surges over 2% moneycontrol.com /3 years ago
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