US DOJ Allegedly Launches Investigation Into Tether

The US Department of Justice (DOJ) has allegedly launched an investigation into the USDT stablecoin issuer for potential anti-money laundering violations. This comes just days after the Tether CEO Paolo Ardoino called for stable crypto regulations in the country.

US DOJ Allegedly Launches Probe Into Tether

According to report by the Wall Street Journal (WSJ), the US government is allegedly investigating Tether of possible violations of sanctions and anti-money laundering rules. Specifically, the crypto firm may face penalties for doing business with groups on the US sanctions list. The criminal investigation is also looking at whether the USDT has been used by third parties to fund illegal activities such as the drug trade, terrorism and hacking—or launder the proceeds generated by them.

Commenting on this development, Tether CEO Paolo Ardoino mentioned in an X post that they had told the Wall Street Journal that there is no indication that the crypto firm is under investigation. He added,

WSJ is regurgitating old noise. Full stop.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

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