Tether to Updated the USDT "100% Backed" Policy

Now, “reserves ... from time to time, may include other assets and receivables from loans made by Tether to third parties"
14 March 2019   277

The USDT token linked to the US dollar, as was assumed until recently, is fully secured with hard currency. However, the latest revision on the website of the issuer of stablecoin of Tether company says that the situation is now different.

The 100% Backed section at Tether websites says: “reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”)."

At the same time, the company insists that each token is still pegged to the USD in the ratio of 1x1.

Earlier, Tether stated that all USDT coins are 100% secured by the US dollar. In part, these allegations at the end of last year were confirmed by the Bloomberg publication.

The new edition on the Tether website has already been commented on by users of Reddit. According to Toyake, you can now officially say that the USDT is not 100% guaranteed by the US dollar.

Chainalysis to Expand Transaction Monitoring Tool

Chainalysis AML software KYT now monitors 4 additional tokens in real-time: BNB, GUSD, USDT and USDC
25 April 2019   163

Analytical blockchain-startup Chainalysis reported that starting today, the proposed transaction tracking tool Chainalysis KYT (Know Your Transaction) supports four additional coins. Their number includes the internal token of the Binance BNB exchange, as well as the Gemini Dollar (GUSD), Tether (USDT) and USD Coin (USDC).

Thus, the anti-money laundering software Chainalysis supports 10 cryptocurrency assets. Prior to that, Chainalysis KYT allowed to track Bitcoin transactions, Ethereum, Bitcoin Cash, Litecoin, TrueUSD and Paxos Standard.

As CoinDesk notes, support for new assets has been added pending the publication of new guidelines for the Financial Action Task Force on Money Laundering (FATF).

Chainalysis is prepared to equip businesses with automated transaction monitoring for currencies beyond bitcoin. We expect that the launch of these multiple currency capabilities will help shape FATF guidance on the sector and help move away from technically infeasible solutions to more pragmatic recommendations.

Jonathan Levin

Co-founder and chief operating officer, Chainalysis

According to him, Chainalysis recently upgraded its technology, making it more scalable. Thanks to this, in the future it will be easier for it to add support for other new assets.