Stablecoin Tether steps up monitoring in bid to combat illicit finance

📆 02/05/2024 23:27:00
📰 ChannelNewsAsia

⏱ Reading Time:
34 sec. here
2 min. at publisher
📊 Quality Score:
News: 17%
Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

LONDON : The world's largest stablecoin, Tether, has stepped up monitoring of how its tokens are used in broader crypto markets and payments in a bid to combat illicit finance, Tether said in a statement on Thursday.Tether, a cryptocurrency pegged to the U.S.

FILE PHOTO: Figurines with computers and smartphones are seen in front of Tether logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File PhotoLONDON : The world's largest stablecoin, Tether, has stepped up monitoring of how its tokens are used in broader crypto markets and payments in a bid to combat illicit finance, Tether said in a statement on Thursday.

Last month, Reuters reported that Venezuela's state-run oil company PDVSA planned to increase use of Tether in its crude and fuel exports at a time when the U.S. has reimposed oil sanctions. A spokesperson for Tether did not immediately respond to a Reuters request for comment asking if there was a link between Thursday's announcement and the Reuters report on PDVSA. Tether's announcement did not mention either report.

Tether has grown rapidly in recent years, hitting $100 billion in circulation in March. That growth has been driven by its use as an alternative to the dollar in emerging markets, Tether CEO Paolo Ardoino told Reuters last month.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto company Tether invests $200 million in brain-chip maker Blackrock NeurotechLONDON : Crypto company Tether has invested $200 million in Blackrock Neurotech, taking a majority stake in the U.S. brain implant company, Tether said in a statement on Monday.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Japan's JERA Co. establishes global renewable energy business in LondonJapan's largest power company, JERA Co., has created a global renewable energy business headquartered in London. The new unit, named JERA Nex, will develop, invest in, own, and operate renewable energy projects such as wind, solar, and battery storage. It aims to develop 20 GW of renewables capacity by 2035 and is considering investments worldwide.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »