Tether, the biggest player in the digital asset field, has teamed up with Chainalysis, a blockchain data provider, to develop a flexible secondary market activity monitoring system.
Secondary market activity refers to exchanges that take place in the wider ecosystem that use USDT other than between parties that trade Tether directly.
Tether may now systematically improve market monitoring and comprehension by tracking transactions thanks to this technology, which was developed by Chainalysis.
An broad collection of monitoring and study tools is one of this system’s key components. “Sanctions Monitoring” provides an extensive log of addresses and transactions pertaining to companies that are subject to sanctions.
It also gives Tether compliance specialists and investigators proactive intelligence that helps them find high-risk wallets and connections to forbidden or illegal addresses.
An additional component called “Categorization” allows for a thorough examination of USDT holders based on a category that includes exchanges and darknet markets.
Tether fights illegal activity by working with 124 law enforcement organizations across 43 jurisdictions. Its stringent compliance guidelines and prompt action in the event of USDT misuse established industry safety standards and guaranteed a safe environment for all players.
The release states that in addition to providing a comprehensive study of notable USDT holders and their activities, it also includes a crucial “Illicit Transfers Detector” for identifying transactions that may be connected to illicit activities such as financing terrorism.
“Our collaboration with Chainalysis marks a pivotal step in our ongoing commitment to establishing transparency and security within the cryptocurrencycurrency industry,” said Paolo Ardoino, CEO of Tether. This partnership strengthens our proactive strategy to protect our ecosystem from illegal activity, and Tether is unwavering in its commitment to maintaining the highest levels of integrity.
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