Tether, the central bank digital currency (CBDC) issuer of the stablecoin USDT, has responded to the recent FUD news in an interview with BlockBeats. Paolo Ardoino, the CEO of Tether, stated that there is no indication that Tether is being investigated by the U.S. Treasury Department. He also clarified that the Wall Street Journal is simply repeating old news.
The Wall Street Journal had previously published an article stating that the U.S. Treasury Department was considering imposing sanctions on Tether. Alongside the potential sanctioning, Tether faces an ongoing investigation for possible violations of sanctions and anti-money laundering regulations, as reported by sources close to the matter.
The investigation aims to uncover any wrongdoing and maintain the integrity of the financial system. As Tether’s stablecoin USDT has gained significant popularity in recent years, these developments may impact investor confidence and the crypto industry at large. It is essential for Tether to address these allegations and maintain transparency in its operations to ensure continued growth and trust among its users.
It remains to be seen how these events will unfold, and the implications for the cryptocurrency market. Stakeholders will be closely watching Tether’s responses to the investigations and any consequent actions taken by the U.S. Treasury Department.