The U.S. Division of Justice has launched an investigation into the stablecoin firm Tether, based on a brand new report.
A prison investigation into the corporate and its dollar-pegged stablecoin USDT is underway, spearheaded by the U.S. lawyer’s workplace in Manhattan, studies the Wall Road Journal.
The DOJ is investigating “attainable” violations of sanctions and anti-money-laundering guidelines, based on individuals accustomed to the matter.
Tether CEO Paolo Adroino has responded to the information, studies Reuters, saying the agency has seen “no indication” that any investigation is underway.
The Wall Road Journal’s report has triggered a small de-peg for USDT, with the coin that’s designed to stay at $1 now buying and selling at $0.9993 at time of publishing.
USDT is the biggest stablecoin in the marketplace, with a $119 billion market cap.
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