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OFAC sanctions USDT-on-Tron wallets used by Houthis The US Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned eight crypto asset wallets tied to Yemen’s Houthi movement. Houthis assist with maritime transport and arms deals from Russia for pro-Iran groups operating in Yemen.  By making it illegal to transact with their wallets and flagging the wallets for global awareness, OFAC aims to prohibit transactions and block the liquidation of their property. All US-operated crypto exchanges and services must block access to sanctioned wallets, and it is illegal for US residents to transact with entities on OFAC’s sanctions list. OFAC has designated the Houthis, also known as Ansarallah, as a Specially Designated Global Terrorist since February 16, 2024. Today’s action adds more specificity to that designation by delineating the exact crypto wallets that exchanges and other services should block. Sanctioned crypto exchange Garantex probed over $20B USDT tra...

Tether USDT integration with Bitcoin’s Lightning Network represents a major step for faster crypto transactions and cryptocurrency adoption. The world’s largest stablecoin issuer announced this development at the Plan B conference in El Salvador. USDT will now work directly on Bitcoin’s system, and this is making all transactions quicker and cheaper at the same time. Source: Tether.io Also Read: Top 3 Cryptocurrencies To Watch This Weekend How the Tether USDT Integration with Bitcoin Lightning Improves Crypto Transactions Source: Watcher Guru The Technical Framework Source: Lightning.network The Tether USDT integration uses Taproot Assets, which was created by the Lightning Labs company. This system allows USDT to work perfectly on both Bitcoin’s main network and the Lightning Network. Some experts say this mix of Bitcoin’s safety and Lightning’s speed makes transactions much better. Impact on Global Payments USDT handled over $10 trillion in transact...

Tether announced on April Fool’s Day that it had completed an audit — unfortunately, it was a security audit, not a financial audit, the results were not shared publicly, and the positive news came on the heels of a WSJ article implicating the stablecoin in the Russian acquisition of weapons for its ongoing war in Ukraine. A press release states that Tether , which has taken to proclaiming itself “the largest company in the cryptocurrency industry” over the past month, has complete d an audit “ensuring that Tether had robust IT control measures in place to make sure their systems were safe.” It did not bother to explain how over $30 million worth of USDT was somehow hacked and moved in 2017. Tether audit comes with good and really bad news While any audit that Tether can complete is undoubtedly good news, the security audit was announced shortly after a highly critical WSJ article that detailed the use of USDT by Vladimir Putin’s regime to purchase weapons and ammunition....