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Tether has not blocked Tornadoke addresses; Lawmakers have yet to apply

Tether has not blocked Tornadoke addresses;  Lawmakers have yet to apply

In its recent statement, Tether announced that it has not blocked the banned addresses associated with TornadoCush.

According to Mihan Blockchain and quoted by Block, Tether Company has said in its statement today that it still stands by its position regarding not blocking Tornadocesh’s sanctioned addresses because it has not received any request from American lawmakers and law enforcement.

The US Office of Foreign Assets Control (OFAC), which operates under the supervision of the Treasury Department, on August 8 (17 August) sanctioned Tornadosh’s cryptocurrency mixer service and said that criminals used this service to launder more than $7 billion in cryptocurrency. Have.

Teter said in its statement that, to date, OFAC has not requested the company to block secondary market addresses that are on the agency’s sanctions list or addresses held by individuals and entities that have been sanctioned by OFAC. Tether’s latest statement appears to be a response to a Washington Post article that suggested Tether may have violated new Treasury Department sanctions related to Tornadoche. Teter went on to say that despite the daily communication they have with law enforcement and also that the requests of these institutions always include complete and accurate details, none of the US legislators or law enforcement have yet submitted a request to block addresses related to Tornadoche.

The Treasury Department has blacklisted several Ether and USDC stablecoin wallet addresses. Although the name USDT stablecoin is not seen in this list, this stablecoin can interact with Ethereum addresses using the ERC-20 standard. For example, one TornadoCash address processed USDT payments a few days after being sanctioned by the Treasury Department.

The Tether company has said that it cooperates and has a close relationship with the American law enforcement and if it receives a legal request from the authorities, it will block private wallets. Tether Company has said:

Tether usually complies with the requests of American officials and is in contact with them almost every day. For example, we have been working with US law enforcement on blocking various addresses, as well as in the last two weeks following OFAC’s public announcement of Tornadoche. But so far, we have not received any specific request regarding the blocking of addresses related to Tornadocush.

Tether has acknowledged that unilateral blocking of secondary market addresses may be highly reckless and intrusive. The company further said:

Even if Tether detects suspicious activity at such addresses, complete blocking without valid instructions from law enforcement and other government agencies may interfere with complex and ongoing law enforcement inspections.

In the meantime, the crypto industry is seeking clarity on what steps it should take to comply with US Treasury Department sanctions. Earlier this week, Senator Tom Emmer wrote a letter to Treasury Secretary Janet Yellen asking her to clarify how the department plans to implement the sanctions, given that recent sanctions have targeted computer code rather than individuals or companies. to explain

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