Tether Frozen $544M in USDT in Turkey Hammers Illegal Betting Networks
Key Takeaways:Big Freeze of Assets Strikes on Betting RingTether Collaborates With Law Enforcement Around the WorldPressure on Regulations in TurkeyCooperation Beyond Borders
Ardoino equated the Turkish order to the regular work of the company with the U.S. Department of Justice and FBI. He emphasized that Tether moves on receipt of credible evidence of a crime regardless of the jurisdiction.
This case focused on organized networks, as opposed to retail users, and sought to prosecute those who utilize the speed and perceived anonymity of the stablecoins to transfer funds to unlicensed gaming websites. Through a series of related investigations into these financial pillars, Turkish officials have already taken more than $1billion in total.
Read More: Tether Posts $10B+ Profit as USDT Supply Hits $186B and U.S. Treasury Exposure Tops $141B
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