Paolo Ardoino, the CEO of stablecoin issuer Tether, is squashing rumors that his agency is being probed by federal companies.
In a submit on the social media platform X, Ardoino addresses a Wall Road Journal (WSJ) report, which claims that authorities are investigating Tether for potential violations of anti-money laundering and sanctions legal guidelines.
The WSJ reviews that the Manhattan U.S. Lawyer’s Workplace is wanting into whether or not Tether’s USDT has been utilized by unhealthy actors to fund unlawful actions or launder the proceeds generated by the legal acts.
The report additionally claims that the Treasury Division is taking a look at probably sanctioning Tether for the “widespread use” of USDT amongst entities sanctioned by the US.
In response, Ardoino says the WSJ is merely recycling long-played-out narratives.
“As we informed the WSJ, there isn’t any indication that Tether is beneath investigation. WSJ is regurgitating outdated noise. Full cease.”
Ardoino additionally highlights that Tether has been routinely cooperating with US authorities to stop unhealthy actors from utilizing USDT to fund illicit actions.
“At Tether, we deal commonly and straight with regulation enforcement officers to assist forestall rogue nations, terrorists and criminals from misusing USDT.
We’d know if we’re being investigated because the article falsely claimed. Based mostly on that, we are able to verify that the allegations within the article are unequivocally false.”
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