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Cryptocurrency company Tether, the issuer of the USDT stablecoin, has announced that it will begin cooperation with the organization INHOPE, which fights against child abuse.
Cryptocurrency company Tether, the issuer of the USDT stablecoin, has announced that it will begin cooperation with the child abuse organization INHOPE. Tehter will reportedly share the information it has with INHOPE in order to identify and take action against attackers using cryptocurrencies.
In particular, this applies to crimes such as the online sale of child sexual abuse materials (CSAM). The companies intend to develop standards for the crypto industry, with the help of which any crypto company could quickly transfer information about intruders to law enforcement.
According to Tether CTO Paolo Ardoino, the company promises to work with financial intelligence and lawmakers around the world. Particular attention will be paid to systems that will allow cryptocurrency companies to separate those associated with CSAM from the general flow of transactions.
INHOPE spokeswoman Samantha Woolfe said marketplaces hosting this kind of content use all available payment technologies and are constantly looking for new ones. Therefore, it is important that not only state bodies take part in the fight against them.
Earlier, the Binance crypto exchange launched an international training program for law enforcement agencies on detecting financial crimes using digital assets. These include the financing of terrorism, human trafficking and child pornography.
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