for so long Tether (USDT) We were not seeing FUD, but as of now, this deficiency has been resolved. USA is the biggest stablecoin The issuer sued the company. This is something that cryptocurrency investors would never want to hear at such a critical time.
Why Are Cryptocurrencies Falling?
BTC price It was recently above $68,000 and has now fallen to $66,770. A federal investigation has been opened against Tether. The reason for this is that the company did business with groups on the US sanctions list. The US Treasury Department is considering imposing sanctions on the company. If this step, which is much more than criminal cases, means the removal of USDT from the country, we may see greater declines in crypto.
most dominant stablecoin The company behind USDT has the densest pairs of all altcoins. Although we are unlikely to see peg disruption during a bank run as it converts its reserves into US bonds, we may see a market negativity similar to peg disruption dominate the stock markets for a long time if USDT is removed from the market by sanctions.
“The criminal investigation, conducted by prosecutors with the Manhattan U.S. attorney’s office, is investigating whether cryptocurrency is being used by third parties to finance or launder proceeds of illegal activities such as drug dealing, terrorism and hacking.”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
