Tether hopes that by collaborating with INHOPE, it will be possible to increase the visibility of bitcoin payments used in content marketplaces that promote child abuse and simplify the handling of these types of payments by authorities. In addition, Tether hopes this will increase the visibility of bitcoin payments used in content marketplaces that promote child abuse. The stablecoin operator will engage with INHOPE, a global network combating online child sexual abuse material (CSAM), to exchange information, engage with stakeholders, and take action against criminal actors originating from the ecosystem. of cryptocurrencies. CSAM stands for Child Sexual Abuse Material. INHOPE is a global network working to remove child-directed sexually abusive content (CSAM) from the Internet.

Tether’s chief technical officer, Paolo Ardoino, said the company was collaborating with law enforcement, financial intelligence units, lawmakers, and regulatory groups around the world to develop “appropriate risk mitigation approaches.” “We have a particular interest in improving the ability of cryptocurrency trading companies to recognize transactions related to MASI markets online and report payments of this type to the competent authorities. This is something that has been on a lot of our thoughts. in recent times.

Since the organization’s inception in 1999, INHOPE has maintained a network of communication hotlines that is comprised of nodes located throughout the world. This network covers not only all the nations affiliated with the European Union, but also those of Russia, South Africa, North and South America, Asia, Australia and New Zealand.

The illegal use of cryptocurrencies as a means to finance the sale of content depicting child abuse is the goal of the agreement, and its goal is to make an effort to end this practice. This goal will be achieved through the combined efforts of all parties to the agreement.