💯 Compliance and AML are undoubtedly important, and
@HTX_Global has always respected and worked in line with global compliance requirements.
However, applying a blanket measure to an entire platform with a large number of legitimate users can easily harm the asset rights and normal trading needs of real users.
What deserves broader industry discussion is this: the power to freeze stablecoins, the standards for enforcement, and the governance of the underlying settlement rails should be more transparent, more consistent, and more accountable.
🙏Protecting user assets and combating illicit activity should not be in conflict with each other.
UK adding all of HTX to its sanctions list is problematic given there are tons of legit users there (not all, but probably most)
meanwhile there’s also a big divergence in when stablecoin issuers freeze coins (or don’t)
this is a great piece about who freezes, when, and why 💡