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US Justice Department Launches Investigation into Tether

US Justice Department Launches Investigation into Tether

HappyCoinNews2024/10/26 13:33
By: HappyCoinNews

The US Department of Justice has launched an investigation into the activities of Tether for possible violation of anti-money laundering regulations.

Interestingly, a few days ago the CEO Tether Paolo Ardoino called for the introduction of regulations for the circulation of cryptocurrencies in the country.

The company is now again under investigation for possible violations of existing sanctions and anti-money laundering regulations. It is also being investigated whether third parties may have used USDT to finance illegal activities such as drug trafficking, terrorism and hacking, or to launder the proceeds of these activities.

According to preliminary data, the US Department of the Treasury is discussing potential fines against the stablecoin issuer for doing business with individuals and groups on the US sanctions list. In addition, it is possible that the department may prohibit Americans from conducting transactions using USDT.

Commenting on the investigation reported by the Wall Street Journal, the CEO Tether Paolo Ardoino said there was no confirmation of this version.

If an investigation is underway, the issuer of the world's largest stablecoin USDT is in trouble Tether will be reflected throughout the entire cryptocurrency market.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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