Tether CEO denies signs of US investigation
A WSJ article claims Tether might be under investigation for sanctions violations and money laundering concerns.
Chief executive of Tether has denied any signs of the company being under investigation by US authorities. His remarks follow a Wall Street Journal report suggesting federal investigators are looking into possible violations of sanctions and anti-money laundering rules.
The report stated that the US Attorney’s Office in Manhattan is examining whether Tether was involved in activities like funding drug trafficking, terrorism, or hacking, either directly or through third parties. Concerns have been raised over whether the cryptocurrency has facilitated the laundering of illicit funds.
Tether, the world’s largest stablecoin, aims to maintain a stable value over time. CEO Paolo Ardoino dismissed the claims on X, asserting that no investigation is underway. The Treasury Department is reportedly considering sanctions, though no official comments have been provided by the US Attorney’s Office or other relevant agencies.
In response, Tether criticised the Wall Street Journal for allegedly overlooking the firm’s cooperation with law enforcement to combat illegal activities involving cryptocurrencies. Officials from the Treasury’s Financial Crimes Enforcement Network did not immediately respond to media inquiries.
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