USDT is under investigation in the U.S – October 2024
Tether, the company behind the stablecoin Tether (USDT), is reportedly under criminal investigation by the U.S. Department of Justice (DOJ) for alleged anti-money laundering violations.
According to government sources cited by The Wall Street Journal on October 25, prosecutors in the U.S. Attorney’s Office in Manhattan are leading the investigation, which is examining whether the stablecoin USDT has been used by third parties to fund illegal activities, such as drug trafficking, terrorism, hacking, and money laundering.
The sources also revealed that the DOJ actually began investigating Tether several years ago. Initially, the focus was to determine if some individuals associated with Tether had committed fraud by using falsified documents to access the global banking system.
Additionally, other sources indicate that the U.S. Treasury Department is considering sanctions against Tether due to its widespread use by individuals and groups on the U.S. blacklist. Such sanctions could potentially ban Americans from doing business with the company.
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