US Department of Justice Investigates Tether (USDT) Over ‘Possible’ Sanctions and Anti-Money Laundering Rule Violations: Report

The US Division of Justice has launched an investigation into stablecoin firm Tether, based on a brand new report.

The corporate and its dollar-pegged stablecoin USDT are underneath felony investigation, led by the U.S. legal professional’s workplace in Manhattan. reports the Wall Avenue Journal.

The DOJ is investigating “potential” violations of sanctions and anti-money laundering laws, based on folks aware of the matter.

Tether CEO Paolo Adroino commented on the information: reports Reuters says the corporate has seen “no indications” that an investigation is underway.

The Wall Avenue Journal report has led to a minor de-peg for USDT, with the coin designed to stay at $1 now buying and selling at $0.9993 on the time of publication.

USDT is the most important stablecoin in the marketplace, with a market capitalization of $119 billion.

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