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Federal Investigators Reportedly Scrutinizing Cryptocurrency Firm Tether
Investigation Details
Reports from the Wall Street Journal suggest that the U.S. Attorney’s Office in Manhattan is leading investigations into cryptocurrency firm Tether, looking into possible breaches of anti-money-laundering and sanctions regulations.
CEO Denies Investigation
Despite the claims, Tether CEO Paolo Ardoino stated that there is currently no indication that his company is under investigation, countering the allegations made in the article.
Potential Violations Under Scrutiny
The inquiry is said to be focusing on whether Tether has been utilized by third parties to finance illicit activities like drug trafficking, terrorism, and hacking, or to launder proceeds from such activities.
Company’s Response
A spokesperson for Tether supported Ardoino’s statement and criticized the Wall Street Journal for publishing unverified information. They emphasized Tether’s cooperation with law enforcement to prevent misuse of cryptocurrencies.
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