- The National Bank of Kazakhstan, Tether and the Alatau City Authority signed a memorandum of understanding to study stablecoins, asset tokenization and decentralized finance, with a focus on a stablecoin pegged to the Kazakhstani tenge and a tokenization pilot under Alatau City's special legal regime.
- The agreement is exploratory: it does not commit Kazakhstan to issuing a stablecoin or adopting Tether's Hadron tokenization platform, and the parties will prepare a pilot proposal after studying international best practices.
- Conduit alleges Tether froze $2.76 million in its treasury wallet on Sept. 24, 2025 without justification, saying its wallet was created after a Brazilian probe target's last transaction and was flagged by Tether's own T3 Financial Crime Unit rather than by police. The complaint brings claims including conversion, unjust enrichment, breach of fiduciary duty and computer fraud.
- The suit adds to scrutiny of Tether's power to freeze USDT at will; Tether was separately sued this year over a $42.4 million freeze, and Sen. Richard Blumenthal has called USDT a 'superhighway' for sanctions evasion.
Quotes
“As part of piloting tokenization projects, we intend to thoroughly study international best practices in stablecoin issuance and real-world asset tokenization”
“reaping the financial rewards”