The payments firm announced the news alongside its first quarter earnings report on Thursday afternoon.

The monitoring system would help Tether identify risky crypto addresses that could be used for bypassing sanctions or illicit activities like terrorist financing, the company said.

Crypto markets have seen significant profit taking in recent weeks with retail investors playing a bigger role than institutions, the report said.

Once they reach a certain level of sophistication, there’s a clear trend for Web3 asset holders to transition their digital asset wealth to self-custody.

U.S. Sen. Elizabeth Warren (D-Mass.), one of the most prominent critics of cryptocurrency hazards, warned the top military and financial officials that Iran relies on digital assets mining as a source of revenue that can lessen the pressure from U.S. sanctions.

MicroStrategy has already built one application using its service. "Orange For Outlook" integrates digital signatures into emails to enable recipients to verify the identity of the sender.