Tether partners with INHOPE to combat the use of cryptocurrencies in child abuse material marketplaces.
Tether aims to increase visibility and mitigate controls of cryptocurrency payments used in child abuse content marketplaces through a collaboration with INHOPE.
According to an announcement shared with Cointelegraph, the collaboration intends to develop a standard practice for the cryptocurrency industry to identify and report these underground marketplaces. “We are especially interested in improving the ability of cryptocurrency businesses to identify transfers related to online CSAM marketplaces and report them to the authorities.”
The partnership is driven by a push to disrupt the illegal use of cryptocurrencies to fund the exchange of child abuse material.A statement from Samantha Woolfe, global partnerships head at INHOPE, highlighted the fact that these marketplaces made use of every payment technology available, which calls for more collaboration between private and public sector organizations:
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