TRON, Tether, and TRM Labs have announced their intention to fight financial crime
The task force said it had already frozen $12 million in USDT that had been used in an investment fraud
10.09.2024 - 14:10
112
2 min
0
What’s new? The TRON blockchain has partnered with TRM Labs and USDT issuer Tether to announce the T3 Financial Crime Unit (T3 FCU), a task force created to fight financial crime. TRON blockchain founder and head of centralized crypto exchanges (CEXs) HTX and Poloniex Justin Sun said that the TRON blockchain was made from the belief that technology can be used for good. He added:
“By collaborating with TRM Labs and Tether, TRON is helping to ensure that blockchain technology is used to make our world a better place, and sends a clear message that illicit activity is not welcome in our industry.”
What else is known? T3 FCU will be cracking down on illegal activity in which USDT has been used. The task force said it has already frozen $12 million in USDT used in investment fraud. TRM Labs will use its toolkit to analyze Tron and Tether blockchain activity to identify suspicious activity.
New complaint has been filed against Tether and Bitfinex over the issuance of unsecured USDT
Proceedings on charges of market manipulation with uncollateralized issued stablecoins have been going on since 2019
TRM Labs officials said that while the overall volume of illicit cryptocurrency remains low, the goal is to bring it down to zero. TRM Labs’ global head of investigations Chris Janczewski noted:
“As adoption of stablecoins continues to rise, it’s critical that key industry players proactively evolve their capabilities to combat illicit activity and ensure a safe and secure environment.”
Useful material?
Incidents
The figure for the first three quarters of 2024 exceeded $2 billion
Sep 30, 2024
Market
The commission’s chair said that the bank’s approach to storage is suitable for a variety of cryptocurrencies, not just BTC and ETH
Sep 27, 2024
Market
The seller claims that the data was obtained as a result of a leak in August of this year
Sep 24, 2024
Market
The increase in fees caused an increase in the volume of coins burned during transactions
Sep 23, 2024
Market
The asset is collateralized by short-term treasury bills, overnight repos, and cash
Sep 19, 2024
Market
It will cost less than 2 TRX to complete a transaction
Sep 18, 2024