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Tether Under Federal Scrutiny: Investigations Spark Controversy Amid Strong Denials and Market Turmoil
Recent allegations against Tether, the company behind the USDT stablecoin, have sent ripples through the cryptocurrency market. According to a Wall Street Journal (WSJ) report, U.S. federal prosecutors are investigating Tether for potential anti-money laundering laws and sanctions violations. The probe is allegedly investigating whether third parties have utilized Tether’s stablecoin to finance illegal activities or to launder the money from such activities.