Tether(USDT) News: Garantex Exchange Suspended After Tether Freezes $28M in USDT

In a significant move, Tether has frozen over $28 million worth of USDT on the Garantex crypto exchange, leading to the suspension of all transactional services by the latter. This action comes after Garantex was sanctioned by both the EU and the US for processing illegal transactions and violating anti-money laundering laws.

Tether Freezes $28M USDT in Garantex Exchange, Causing Shutdown

Garantex, a crypto exchange sanctioned by the EU in February and by the US in 2022 for processing illegal transactions and violating anti-money laundering laws, has suspended operations after Tether froze over 2.5 billion rubles ($27 million) in USDT. Russia’s biggest sanctioned crypto exchange has stopped all transactional services following the action taken by the popular stablecoin provider.

How to Avoid Falling Victim to USDT Scams on WhatsApp: A Case Study and Recovery Guide

As Bitcoin and other digital assets gain popularity, scams in the crypto space also increase. One common type of fraud involves unsuspecting investors being added to WhatsApp or Telegram groups run by people pretending to be experts. This article provides an example of how these scams work and steps to recover funds if scammed involving USDT or Bitcoin.

Thailand Approves Tether’s USDT as Recognized Cryptocurrency

Thailand’s Securities and Exchange Commission has granted regulatory approval to Tether’s USDT, allowing its trade on licensed exchanges and potential use in payments. The approval comes as part of updated digital asset regulations set to take effect on March 16. With this approval, USDT now has access to one of Asia’s largest markets, as Thailand ranks among the top 20 globally in crypto adoption, with Tether’s stablecoin accounting for around 40% of trading volumes. Tether’s chief executive Paolo Ardoino welcomed the decision, stating that the firm’s priority is to provide users in Thailand with a secure and transparent service.