The US Department of Justice (DOJ) has allegedly launched an investigation into the USDT stablecoin issuer for potential anti-money laundering violations. This comes just days after the Tether CEO Paolo Ardoino called for stable crypto regulations in the country.

US DOJ Allegedly Launches Probe Into Tether

According to report by the Wall Street Journal, the US government is investigating Tether of possible violations of sanctions and anti-money laundering rules. Specifically, the crypto firm may face penalties for doing business with groups on the US sanctions list. The criminal investigation is also looking at whether the USDT has been used by third parties to fund illegal activities such as the drug trade, terrorism and hacking—or launder the proceeds generated by them.

Commenting on this development, Tether CEO Paolo Ardoino said that they are not aware of any investigation into the firm. However, if true, this news is one that could have a significant on the crypto market considering that USDT is the largest stablecoin by market cap.

The post Breaking: US DOJ Allegedly Launches Investigation Into Tether appeared first on CoinGape.

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