Tether CEO dismisses report of ongoing federal probe in the US

 Tether CEO Paolo Ardoino denied reports astir the steadfast being nether probe successful the US.

Ardoino’s clarification comes after a Wall Street Journal report claimed that national prosecutors successful Manhattan are allegedly investigating the stablecoin issuer.

Ardoino said:

“WSJ is regurgitating aged noise. Full stop.”

According to the WSJ report, the investigations are allegedly related to imaginable sanctions violations and money-laundering abuses related to Tether USD (USDT). US officials are examining whether 3rd parties person utilized USDT to money activities tied to cause trafficking, terrorism, and cybercrime oregon to launder illicit proceeds.

Additionally, the Treasury Department is allegedly weighing sanctions against Tether owed to its precocious usage among sanctioned entities, including groups similar Hamas and Russian arms dealers.

Tether besides responded to the study and denied the claims of an investigation.

It added:

“To suggest that Tether is someway progressive successful aiding transgression actors oregon sidestepping sanctions is outrageous. We enactment actively with US and planetary instrumentality enforcement to combat illicit activity, arsenic we’ve publically demonstrated galore times.”

The probe allegations travel aft Tether reiterated its committedness to instrumentality enforcement successful September. The crypto institution revealed the constitution of a dedicated External Investigations Unit staffed with erstwhile instrumentality enforcement officers, prosecutors, and forensic analysts. 

Furthermore, Tether stated it had aided 180 agencies crossed 45 jurisdictions, frozen implicit 1,850 wallets tied to illicit activities, recovered astir $114 million, and blocked $225 cardinal connected to fraud earlier receiving ineligible orders.

Tether besides highlighted its recent partnership with blockchain analytics firms Chainalysis and TRM Labs to bolster its oversight of transaction flows and code compliance.

The station Tether CEO dismisses study of ongoing national probe successful the US appeared archetypal connected CryptoSlate.