Cryptocurrencies have had a hard time during bear markets due to stablecoin FUDs. We have not seen bad news about USDT since the Evergrande collapse. Things have changed today and we have read reports saying that the US is taking action against the largest stablecoin issuer. The company responded to these allegations.
Tether Investigation
According to the WSJ claim, an investigation has been launched against the company and it will be in a difficult situation for violating the sanctions. Many claims have been made, including that the US Treasury Department may decide to impose sanctions on the company. All this is the largest stablecoin USDTIt could have devastating consequences for the company behind it. Of course crypto- It may also cause a collapse in currencies.
Tether just wrote the following about all these claims;
“It is extremely irresponsible for the WSJ to write articles making such absolutely reckless claims when no authorities have gone on record to confirm these rumors and no sources have been cited. These stories are based entirely on speculation, although Tether has confirmed that it is not aware of any such investigations into the company.
The article also carelessly ignores Tether’s well-documented and extensive agreements with law enforcement to crack down on bad actors seeking to misuse Tether and other cryptocurrencies.”
Tether Its CEO explains at every opportunity that it cooperates in many countries to make the job of law enforcement easier.
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.
