• Tether is collaborating with INHOPE, a global network combating online child sexual abuse material, to help the industry combat child abuse material marketplaces.
• The partnership is driven by a push to disrupt the illegal use of cryptocurrencies to fund the exchange of child abuse material.
• Tether will work with INHOPE to share information, collaborate with stakeholders, and enforce actions on bad actors from the cryptocurrency ecosystem.

Tether, the leading stablecoin operator, has announced a new collaboration with INHOPE, a global network combating online child sexual abuse material (CSAM). The partnership is a move to combat child abuse material marketplaces and the illegal use of cryptocurrencies to fund the exchange of child abuse material.

Tether will be working with INHOPE to share information, collaborate with stakeholders, and enforce actions on bad actors from the cryptocurrency ecosystem. The collaboration aims to develop a standard practice for the cryptocurrency industry to identify and report underground marketplaces.

Paolo Ardoino, chief technology officer at Tether, stated that the company was working with law enforcement, financial intelligence units, lawmakers, and standard-setting bodies globally to establish “sensible risk-mitigating controls.”

INHOPE has been operating since 1999, with a network of communication hotlines that includes all European Union member states, Russia, South Africa, North and South America, Asia, Australia and New Zealand. The organization works to disrupt the illegal use of cryptocurrencies to fund the exchange of child abuse material.

Samantha Woolfe, global partnerships head at INHOPE, said the organization was looking to “strengthen existing initiatives” to build a “more secure and safer Internet for all.” She added, “We believe that this collaboration will help to increase visibility and mitigate controls of cryptocurrency payments used in child abuse content marketplaces, so we can further our mission to protect children online.”

Tether is committed to working with INHOPE and other organizations in the industry to combat child abuse material marketplaces and protect vulnerable children online. The collaboration demonstrates Tether’s commitment to the safety and security of the cryptocurrency industry and its users.