Virtual currency giant Tether denies reports that it is being investigated by federal investigators for violating economic sanctions or anti-money laundering regulations – GIGAZINE

The Wall Street Journal (WSJ), a daily economic newspaper, reported that the U.S. Attorney’s Office in Manhattan has begun an investigation into Tether, the publisher of the stablecoin Tether (USDT). It is said that “it may be a violation of economic sanctions or anti-money laundering rules,” but Tether CEO Paolo Ardoino completely denied the report, calling it “an irresponsible article based on speculation.” I’m doing it.

Exclusive | Federal Investigators Probe Cryptocurrency Firm Tether – WSJ
https://www.wsj.com/finance/currencies/federal-investigators-probe-cryptocurrency-firm-tether-a13804e5

The WSJ report states, “Prosecutors in the Manhattan U.S. Attorney’s Office are investigating whether third parties have used virtual currencies to fund illegal activities such as drug trafficking, terrorism, and hacking, or if any profits obtained from virtual currency have been used by third parties to fund illegal activities such as drug trafficking, terrorism, and hacking. “We are investigating whether there is any laundering of profits,” and the information came from “a person familiar with the matter.”

In addition, WSJ also reports that the Treasury Department is considering sanctions against Tether, as Tether is widely used by economic sanctions targets such as Hamas and the Russian military industry.

In response to the article, CEO Ardoino told “Tether is under investigation.” Based on this, we can prove that the article’s claims are demonstrably false.”

In addition, a notice titled “Tether condemns WSJ’s irresponsible reporting and stands behind its strong law enforcement record” was posted on the official website.

Tether Slams WSJ’s Irresponsible Reporting, Stands by Strong Law Enforcement Track Record – Tether.io
https://tether.io/news/tether-slams-wsjs-irresponsible-reporting-stands-by-strong-law-enforcement-track-record/

In the statement, Tether said, “It is extremely irresponsible for the WSJ to publish such nonsense when the source of the information is unclear and there are no authorities to confirm the rumors.The content of the article is based on mere speculation. The article also highlights Tether’s well-documented interactions with law enforcement agencies to crack down on criminals attempting to exploit Tether and other cryptocurrencies. “We are inadvertently overlooking that we are doing this on a large scale.”

A spokesperson for the U.S. Attorney’s Office declined to comment on the matter.