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Tether, the largest stablecoin by market cap, is under investigation by federal prosecutors in Manhattan for potential money laundering and sanction violations. Tether denounced the report as unverified speculation. However, the crypto market data indicates that rumors regarding the probe against the stablecoin have heavily impacted the entire crypto market.
Cryptocurrencies declined after the WSJ Tether report announced investigations against the company due to its ties to sanctioned individuals.
Crypto rout sends XRP below $0.50. Ripple's cross-appeal fuels legal debate as SEC delays draw investor criticism.
The broader crypto market crashed with the Bitcoin (BTC) price dropping 2% taking a dip to the support levels of $65,500 again. Following Israel's attack on Iran's military targets, the altcoins are seeing even greater pullback with Ethereum, BNB, SOL, and XRP falling by 3-6% each.
This inquiry is being spearheaded by the US Attorney's office in Manhattan. Tether is being investigated by the US Treasury Department for possible sanctions.
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.
Cryptocurrency company Tether condemned a report from The Wall Street Journal (WSJ) posted Friday (Oct. 25) that said federal agencies are investigating the company for possible violations of sanctions and anti-money laundering (AML) rules. The WSJ report cited unnamed sources.
A new statue depicting Bitcoin's anonymous creator Satoshi Nakamoto has just been unveiled in Switzerland. Earlier this morning at the 3rd Annual Lugano Plan B forum in Switzerland, the Plan B Initiative, a collaboration between Tether and the city of Lugano, revealed a statue honoring the faceless BTC creator.
Crypto markets erased $5B of their value within an hour on the news of a possible renewed Tether investigation on anti money-laundering practices. The market recovered soon after the initial shock.
Dogecoin insider Mishaboar has sent an open letter to the community with advise to shun stablecoins like USDT, USDC and even PYUSD. According to him, holding these assets are “inherently risky” and can harm holders.
According to a Friday report, the United States Justice Department has launched a criminal investigation into stablecoin issuer Tether. The probe is reportedly meant to determine whether the company violated anti-money laundering rules and sanctions.
Tether CEO Paolo Ardoino has denied allegations that the company is facing an investigation by the U.S government. This comes in response to a Wall Street Journal report on an alleged probe by U.S. authorities into Tether's involvement in sanction violations and anti-money laundering (AML) breaches.
“Old noise” may be a new name for FUD, as Tether defends itself from a report in The Wall Street Journal about US government investigations.
In a recent report by the Wall Street Journal (WSJ), it was alleged that Tether is currently under federal investigation for potential violations related to sanctions and anti-money laundering (AML) regulations in the US. The inquiry, reportedly led by prosecutors from the Manhattan US Attorney's Office, is said to focus on whether Tether's stablecoin, USDT, has been used by third parties to finance illegal activities such as drug trafficking, terrorism, and hacking, or to launder the proceeds from these activities.
U.S. federal investigators are probing Tether for potential sanctions violations and anti-money-laundering breaches, following claims that the stablecoin was used to facilitate illegal activities, prompting Tether's CEO to deny any wrongdoing. The post US Government Investigates USDT Company Tether for Sanctions Violations-WSJ appeared first on Cryptonews.
Crypto prices fluctuated heavily over the week as Bitcoin price swung to above $69K and back under $65K before regaining some ground to trade above $67K on Friday evening. Most altcoins swung sharply too, with meme coins seeing huge gains before paring them.
U.S. federal authorities are currently examining stablecoin issuer Tether (CRYPTO: USDT) for potential infractions of U.S. sanctions and anti-money-laundering regulations, according to a report. What Happened: This inquiry, conducted by the Manhattan U.S. Attorney's Office, is investigating possible misuse of Tether's stablecoin in activities like drug trafficking, terrorism financing, and laundering proceeds from these illicit actions, The Wall Street Journal reported.
U.S. authorities are scrutinizing Tether for potential breaches of anti-money-laundering laws and sanctions, according to sources cited by The Wall Street Journal (WSJ) in a report written by Angus Berwick, Vivian Salama, and Ben Foldy and published earlier today.
Tether CEO Paolo Ardoino denied reports about the firm being under investigation in the US. Ardoino's clarification comes after a Wall Street Journal report claimed that federal prosecutors in Manhattan are allegedly investigating the stablecoin issuer.
Stablecoin issuer Tether has denied a report claiming that the company is being investigated by the U.S. government.
Cryptocurrency company Tether is currently under federal investigation for possible sanctions and anti-money laundering (AML) violations, according to the Wall Street Journal.
CNBC's Eamon Javers joins 'Power Lunch' to discuss reports that crytopcurrency Tether being. probed by DOJ over possible violations of sanctions and laundering rules.
Tether CEO Paolo Ardoino denied reports of lawmakers investigating the major cryptocurrency company over potential violations of anti-money-laundering and sanctions laws.
The Wall Street Journal claimed that Tether is being investigated for failing to comply with AML laws, but the CEO says otherwise.
