2024-10-26
The Wall Street Journal reported on
Oct. 25, 2024 that Federal investigators are reportedly probing Tether for
possible violations of sanctions and anti-money-laundering rules
The probe is to determine whether or
not Tether has violated anti-money-laundering rules and sanctions.
The investigation is being led the US
Attorney’s Office for the Southern District of New York under the Justice
Department and it focuses on whether Tether was used to support illegal
activities or to launder money.
Furtheremore, the Treasury Department is considering sanctioning Tether because of its widespread use by individuals and groups sanctioned by the US, including the Palestinian militant group Hamas and Russian arms dealers.
Tether's CEO, Paolo Ardoino, has denied
any wrongdoing and stated that there is "no indication" of an
investigation. He posted on X quoted “As we told to WSJ there is no indication
that Tether is under investigation. WSJ is regurgitating old noise. Full stop.”
