US DOJ launches investigation into Tether for potential AML violations
Highlights
- US government investigates Tether: The U.S. Department of Justice (DOJ) has launched a criminal investigation into Tether, examining potential violations of anti-money laundering (AML) regulations.
- Probe focuses on USDT issuer: According to the Wall Street Journal, the DOJ's inquiry targets Tether's possible dealings with groups on the U.S. sanctions list, which could lead to penalties.
- Concerns about illicit use: The investigation also explores whether USDT has been used by third parties to finance illegal activities, including drug trafficking, terrorism, and cybercrime, or to launder proceeds from these operations.
- Tether CEO responds: CEO Paolo Ardoino commented that Tether is unaware of any ongoing investigation but reiterated Tether’s commitment to transparency and compliance. He emphasized that this news, if accurate, could have significant implications for the crypto market, as USDT is the largest stablecoin by market capitalization.
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