Tether Investigation by the US Government Is Underway: WSJ Report - Coincu
BTC $66877.302 -1.73%
ETH $2445.334 -3.03%
BNB $577.182 -3.24%
XRP $0.509 -3.75%
BTC ETH BNB ADA SOL AVAX DOGE LINK TRX
USD EUR GBP JPY AUD CAD CHF CNY
Convert
LIVE UPDATES • Tether Investigation by the US Government Is Underway: WSJ Report • Catch These Top Coins Before They Skyrocket – Your Last Chance to Invest Big • ICP & Bittensor Fight Volatility While BlockDAG’s Stunning New Brand Video Propels Presale Beyond $102M • Qubetics Could Deliver $30,800 Profit While Filecoin Expands AI Partnerships and Intel Markets Gears Up for Blockchain Disruption • Aark Digital Offers 15% Bounty to Hacker Responsible for $1.5M Attack on Vaults • Solana Leaves Cardano Behind as Ecosystem Heats Up; Is Jupiter The Best SOL Altcoin? • Chainlink (LINK) Appeals to Institutions with New Launch, but Traders Still Chose This Altcoin for 2000% Returns • Plus Wallet Users Are Scoring Big! See How $200M in Tokens, & Kraken’s ETH Restaking Are Creating Huge Opportunities! • Top 4 Crypto Projects to Watch in 2024: Qubetics, Avalanche, Tether, and Ethereum • Plus Wallet Wins MetaMask Users Over with Superior Security! TON’s Axelar Partnership & Bybit’s $X Token Revelation!
News Tether Investigation by the US Government Is Underway: WSJ Report 1 hours ago - Around 2 mins mins to read
Key Points:
Tether investigation by U.S. authorities, including the DOJ and Treasury, is underway into USDT transactions used by sanctioned groups like Hamas and Russian arms dealers.
According to WSJ, USDT facilitates around $190 billion in daily trades.
According to Wall Street Journal, the US Department of Justice and the Treasury Department have reportedly opened an investigation into Tether, the company behind the world’s largest stablecoin, USDT, for allegedly breaching anti-money laundering laws and allowing the bypassing of restrictions by people or entities under sanctions.
Read more: Tether Transparency Problems Are Coming Under Heavy Criticism
Tether Investigation Is Underway by the US Government
Led by the Southern District of New York, the DOJ’s Tether investigation has zeroed in on whether third parties used USDT to further illegitimate activity or launder suspicious funds. The investigation has reportedly been ongoing for years as an attempt to determine whether Tether’s extensive usage was able to cover illegal financial deals.
The U.S. Treasury Department is also investigating Tether’s possible involvement in international sanctions skirting. Officials are concerned that banned entities, such as Hamas and Russian arms dealers, could use Tether’s USDT token in financial deals because it is basically a digital dollar in international markets. According to the Wall Street Journal, there are about $190 billion in USDT trades daily.
Tether Investigation News Rocks the Crypto Market: CEO Paolo Ardoino Responds
Ranked as the third-biggest cryptocurrency by value, with a market cap of about $120 billion, USDT is particularly popular in jurisdictions that have restrictions on traditional currency exchanges. This extensive use and liquidity have placed it at the centre of recent government scrutiny over potential regulatory and security concerns.
Tether’s chief executive was quick to play down the allegations as “old noise,” contending in an X post, formerly Twitter, that at this moment in time, Tether is not under any investigation. As such, the report by the Wall Street Journal was misleading, underlined Ardoino, and there was “no indication” of direct action against Tether.
Still, the news of the Tether investigation sent cryptocurrency markets tumbling. Bitcoin slumped more than 2%, while Ether briefly sank under $2,400 before paring losses.
DOJ Paolo Ardoino Tether Tether Investigation USDT WSJ
Author Harold
With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Related Posts
Licensed Hong Kong Crypto Exchanges Will Be Boosted in 2024 Grayscale Files to Convert Multi-Crypto Fund into ETF James Howells Sues Council for $647M Over Lost Bitcoin Drive New Coinbase Stablecoin Delist Plan Will Take Effect By End Of 2024 dYdX Founder Antonio Juliano Is Now Back At The Company’s Leadership Role Whale Staked $1.1M in SOL via Bitget Liquidity Staking SOL Ripple Custody Service Promises Unmatched Security for Your Crypto Holdings National Blockchain Strategy Vietnam Aims for Broader Reach
News
Tether Investigation by the US Government Is Underway: WSJ Report
Key Points:
Tether investigation by U.S. authorities, including the DOJ and Treasury, is underway into USDT transactions used by sanctioned groups like Hamas and Russian arms dealers.
According to WSJ, USDT facilitates around $190 billion in daily trades.
According to Wall Street Journal, the US Department of Justice and the Treasury Department have reportedly opened an investigation into Tether, the company behind the world’s largest stablecoin, USDT, for allegedly breaching anti-money laundering laws and allowing the bypassing of restrictions by people or entities under sanctions.
Read more: Tether Transparency Problems Are Coming Under Heavy Criticism
Tether Investigation Is Underway by the US Government
Led by the Southern District of New York, the DOJ’s Tether investigation has zeroed in on whether third parties used USDT to further illegitimate activity or launder suspicious funds. The investigation has reportedly been ongoing for years as an attempt to determine whether Tether’s extensive usage was able to cover illegal financial deals.
The U.S. Treasury Department is also investigating Tether’s possible involvement in international sanctions skirting. Officials are concerned that banned entities, such as Hamas and Russian arms dealers, could use Tether’s USDT token in financial deals because it is basically a digital dollar in international markets. According to the Wall Street Journal, there are about $190 billion in USDT trades daily.
Tether Investigation News Rocks the Crypto Market: CEO Paolo Ardoino Responds
Ranked as the third-biggest cryptocurrency by value, with a market cap of about $120 billion, USDT is particularly popular in jurisdictions that have restrictions on traditional currency exchanges. This extensive use and liquidity have placed it at the centre of recent government scrutiny over potential regulatory and security concerns.
Tether’s chief executive was quick to play down the allegations as “old noise,” contending in an X post, formerly Twitter, that at this moment in time, Tether is not under any investigation. As such, the report by the Wall Street Journal was misleading, underlined Ardoino, and there was “no indication” of direct action against Tether.
Still, the news of the Tether investigation sent cryptocurrency markets tumbling. Bitcoin slumped more than 2%, while Ether briefly sank under $2,400 before paring losses.
Other Posts
Related Posts
[tptn_list limit="8" title_length="0" heading="0" show_date="0" daily="1"]
24h 7D 30D Trending
[tptn_list how_old="1" limit="5" title_length="0" heading="0" show_date="0" ]
[tptn_list how_old="7" limit="5" title_length="0" heading="0" show_date="0" ]
[tptn_list how_old="30" limit="5" title_length="0" heading="0" show_date="0"]
Latest
view more
- 1 hours ago 2 mins
1 hours ago
26 Oct
Tether Investigation by the US Government Is Underway: WSJ Report October 26, 2024
- 2 hours ago 5 mins
2 hours ago
26 Oct
Catch These Top Coins Before They Skyrocket – Your Last Chance to Invest Big October 26, 2024
- 3 hours ago 4 mins
3 hours ago
26 Oct
ICP & Bittensor Fight Volatility While BlockDAG’s Stunning New Brand Video Propels Presale Beyond $102M October 26, 2024
TOP Casino Projects
view more
Press Release
view more
- 2 hours ago 5 mins
2 hours ago
26 Oct
Catch These Top Coins Before They Skyrocket – Your Last Chance to Invest Big
- 3 hours ago 4 mins
3 hours ago
26 Oct
ICP & Bittensor Fight Volatility While BlockDAG’s Stunning New Brand Video Propels Presale Beyond $102M
- 5 hours ago 4 mins
5 hours ago
25 Oct
Qubetics Could Deliver $30,800 Profit While Filecoin Expands AI Partnerships and Intel Markets Gears Up for Blockchain Disruption
Key Points:
Tether investigation by U.S. authorities, including the DOJ and Treasury, is underway into USDT transactions used by sanctioned groups like Hamas and Russian arms dealers.
According to WSJ, USDT facilitates around $190 billion in daily trades.
According to Wall Street Journal, the US Department of Justice and the Treasury Department have reportedly opened an investigation into Tether, the company behind the world’s largest stablecoin, USDT, for allegedly breaching anti-money laundering laws and allowing the bypassing of restrictions by people or entities under sanctions.
Read more: Tether Transparency Problems Are Coming Under Heavy Criticism
Tether Investigation Is Underway by the US Government
Led by the Southern District of New York, the DOJ’s Tether investigation has zeroed in on whether third parties used USDT to further illegitimate activity or launder suspicious funds. The investigation has reportedly been ongoing for years as an attempt to determine whether Tether’s extensive usage was able to cover illegal financial deals.
The U.S. Treasury Department is also investigating Tether’s possible involvement in international sanctions skirting. Officials are concerned that banned entities, such as Hamas and Russian arms dealers, could use Tether’s USDT token in financial deals because it is basically a digital dollar in international markets. According to the Wall Street Journal, there are about $190 billion in USDT trades daily.
Tether Investigation News Rocks the Crypto Market: CEO Paolo Ardoino Responds
Ranked as the third-biggest cryptocurrency by value, with a market cap of about $120 billion, USDT is particularly popular in jurisdictions that have restrictions on traditional currency exchanges. This extensive use and liquidity have placed it at the centre of recent government scrutiny over potential regulatory and security concerns.
Tether’s chief executive was quick to play down the allegations as “old noise,” contending in an X post, formerly Twitter, that at this moment in time, Tether is not under any investigation. As such, the report by the Wall Street Journal was misleading, underlined Ardoino, and there was “no indication” of direct action against Tether.
Still, the news of the Tether investigation sent cryptocurrency markets tumbling. Bitcoin slumped more than 2%, while Ether briefly sank under $2,400 before paring losses.