US prosecutors are investigating Tether (USDT), says WSJ

Publicado em por

Tether-usdt

United States authorities are investigating Tether, the company responsible for the world's largest stablecoin, USDT. Suspicions are that the company may have violated rules against money laundering and sanctions.

According to a report from The Wall Street Journal, published this Friday (25), the investigation analyzes whether third parties used the stablecoin for illegal activities, such as financing terrorism, drug trafficking and cyber attacks.

The U.S. attorney's office in Manhattan is leading the criminal investigation. Meanwhile, the Treasury Department is studying the possibility of sanctioning Tether due to the use of the stablecoin by US-sanctioned people and groups. This includes the terrorist organization Hamas and other individuals in Russia. If the Treasury chooses to sanction the company, it could restrict business between Tether and US citizens.

  • Also read: Solana network memecoin that soared 40,000% in the year could go parabolic

Tether may face sanctions in the US

So far, both the Treasury Department and the U.S. Attorney's office for the Southern District of New York have not commented on the case. Tether CEO Paolo Ardoino reacted to the report on social media. As Ardoino stated, there is no indication that Tether is under investigation. Additionally, he criticized the Wall Street Journal for “repeating old information.”

Tether has been the target of scrutiny for years due to its stablecoin, which is pegged to the value of the US dollar. In a previous investigation, the U.S. Commodity Futures Trading Commission said the company made “false or misleading” statements about the stablecoin’s backing, claiming it was not fully backed by U.S. dollars, as the company had reported.

Furthermore, US parliamentarians have also expressed concern about Tether's activities. They asked the country's Department of Justice to investigate the company's possible involvement in illicit financing. Tether, in turn, states that it collaborates with international authorities in all investigations.

  • Read also: Analyst bets on a 60% increase for Dogecoin and makes projections for Solana and Sui

The post US prosecutors are investigating Tether (USDT), says WSJ appeared first on CriptoFacil.