Tether, TRON, and TRM Labs have teamed up to establish the T3 Financial Crime Unit (T3 FCU), which aims to prevent the illegal use of USDT on the TRON blockchain.
As of Sept. 10, Tether’s external investigations team, TRON’s technical expertise, and TRM Labs’s blockchain intelligence were united in collaboration. The initiative has, from its inception, allowed the freezing of more than 12 million USDT used in various scams in cooperation with law enforcement.
This revolutionary collaboration comes as the demand for USDT on TRON, which now accounts for more than half of the total supply, is increasing. Stablecoin’s low fees and ease of use have drawn legitimate users to it, but they have also attracted bad actors.
Justin Sun, TRON’s founder, emphasized the blockchain’s commitment to positive technological impact, stating:
TRON originated with the belief that technology can be used for good and to empower people across the globe. 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.
Tether CEO on ensuring ecosystem integrity
Tether’s CEO Paolo Ardoino expressed the same sentiment. He pointed out that the company was taking actions to guarantee the preservation of the integrity of its ecosystem. The chief of global investigations at TRM Labs, Chris Janczewski, highlighted the necessity of developing capacities to deal with illegal actions as stablecoin usage increases.
The T3 FCU’s initiatives will likely greatly obstruct criminals from laundering and using illicit funds on the TRON network. TRM will constantly assist in detecting suspicious transactions connected to different illegal activities. It will utilize its own technology and the international investigator network.
While the digital asset sector keeps expanding, initiatives like T3 FCU are dedicated to developing a more secure user atmosphere. Just keep in mind that the market cap of USDT is now more than $117 billion, so proper handling of that asset plays an important role in the broader crypto ecosystem stability.
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