Tether will not freeze any funds linked to Tornado Cash

Tether, the issuer of the largest stablecoin USDT, said this week that the company will not freeze funds related to OFAC-sanctioned addresses unless specifically ordered by law enforcement.

Tether has often been in the headlines as there have been repeated criticisms of the assets backing the stablecoin. Nonetheless, USDT has emerged as the digital dollar of the industry.

The company's decision not to freeze USDT addresses associated with Tornado Cash stands out compared to many other companies who were quick to take action.

Unlike Tether, Circle immediately blacklisted the smart contracts. However, it seems unlikely that these measures will deter committed money launderers.

Since the sanctions, many projects have been accused by privacy advocates of going beyond normal compliance measures. The banned addresses reportedly include whitehat hackers, victims of hacks, and those targeted by dust attacks due to their proximity to the banned addresses.

However, it is clear why so many are keen to stay away from any perceived sanctions breach. The arrest of Tornado Cash developer Alexey Pertsev in the Netherlands appears to have shaken the anti-censorship commitment of other developers in the industry.

Tether's decision to withhold the freezing of funds comes as close again to any major player opposing sanctioning a privacy tool used by many legitimate users to protect privacy.

That being said, the statement emphasizes the close relationship that Tether has with law enforcement agencies. If Tether is instructed to freeze addresses, Tether will do so as well.

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