Tether CEO says he sees no signs of US investigation

:Tether’s top executive said Friday that he saw no signs that the company was under investigation after the Wall Street Journal reported that U.S. authorities were investigating the cryptocurrency firm’s possible violations of sanctions or anti-money laundering rules.

Federal investigators, led by the U.S. Attorney’s Office in Manhattan, are examining whether cryptocurrency is being used by third parties to finance or launder proceeds generated by illegal activities such as drug dealing, terrorism and hacking, the WSJ said: Quoting anonymous sources.

Tether is the world’s largest stablecoin, a type of cryptocurrency designed to have a stable value over time.

“There is no indication that Tether is being investigated,” Tether CEO Paolo Ardoino said on X.

A spokesman for the U.S. attorney’s office declined to comment.

According to the WSJ report, the Treasury Department is considering sanctions against Tether due to its widespread use by sanctioned individuals and groups. The crypto firm has been under investigation for years in connection with potential bank fraud by promoters, the report said.

The Treasury Department’s Financial Crimes Enforcement Network did not immediately respond to requests for comment.

“The article… carelessly overlooks Tether’s well-documented and extensive agreements with law enforcement to thwart bad actors seeking to misuse Tether and other cryptocurrencies,” Tether said in a statement about the WSJ report. he said.