Key Takeaways
- Tether introduced at present that it’ll not freeze Twister Money addresses except it’s ordered to take action.
- The stablecoin issuer stated that it’s working with regulation enforcement however has not acquired freeze orders.
- Twister Money is an Ethereum coin mixer whose addresses have been sanctioned by OFAC earlier this month.
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Stablecoin agency Tether stated at present that it could not freeze Twister Money addresses with out particular orders from regulation enforcement.
Tether Has Not Obtained Freeze Orders
Tether says it has not been ordered to freeze Twister addresses.
A number of addresses associated to the Ethereum coin mixer Twister Money have been added to a U.S. sanctions checklist on August 8.
In an announcement at present, Tether stated that it’s cooperating with U.S. regulation enforcement on varied freezes, together with freezes associated to the latest sanctions in opposition to Twister Money.
Nevertheless, Tether affirmed that it has not been particularly ordered to freeze any Twister Money addresses. It stated that the Workplace of Overseas Asset Management (OFAC) “has not indicated {that a} stablecoin issuer is anticipated to freeze secondary market addresses” included on its sanctions checklist or belonging to a sanctioned entity.
The corporate wrote that it’s in “virtually day by day contact” with regulation enforcement and added that it complies with orders when it receives a reliable request from regulation enforcement.
Freezing an handle with out a request from regulation enforcement might be “extremely disruptive and reckless,” Tether says. It says that doing so might tip off suspects, trigger asset holders to promote or abandon their funds, or intrude with ongoing investigations.
Tether additionally acknowledged that it freezes privately-held wallets however doesn’t freeze wallets that belong to exchanges and companies. This assertion appears to allude to a widespread argument which holds that the sanctions in opposition to Twister Money are the primary to ever goal a know-how as an alternative of an individual or group.
Lastly, Tether criticized Circle’s preliminary determination to blacklist Twister Money addresses in relation to its USDC stablecoin. Tether known as Circle’s transfer “untimely” and doubtlessly damaging to regulation enforcement efforts. It famous that different stablecoin issuers equivalent to Paxos and MakerDAO haven’t frozen these addresses.
Disclosure: On the time of writing, the creator of this piece owned BTC, ETH, and different cryptocurrencies.
