Tether has applied for the registration of four trademarks in Russia
Cryptocurrency company Tether, the issuer of the USDT stablecoin, has filed for several trademarks. The company plans to officially register four names of its products: ALLOY BY TETHER (application 2024701810), AUSDT (2024701812), TETHER ALLOY (2024701813) and TETHER USDT (2024701814), reports RBC.
Tether applied to the Federal Intellectual Property Service on January 12, and the applications were published in the Federal Intellectual Property Service Bulletin on January 15.
With a market capitalization of more than $95 billion, USDT is one of the most popular stablecoins, largely due to its relatively low fees and high transaction speed. However, a recent UN report indicated that USDT is heavily used for money laundering and fraudulent schemes.
Tether commented on the UN report, saying that the company is disappointed with the organization’s position, as the report ignores both Tether’s role in helping developing economies, the company’s cooperation with law enforcement and the transparency of transactions in USDT.
“Tether tokens, which use public blockchains, allow every transaction to be closely monitored, making them an impractical choice for illegal activity,” the company said in a statement. — This is evidenced by the fact that over the past few months we have frozen more than $300 million, which demonstrates our commitment to combating the criminal use of cryptocurrencies.”