Tether denies being under investigation

Paolo Ardoino, the CEO of the crypto firm Tether stated the business was not under investigation by US federal authorities. The statement follows a claim by The Wall Street Journal that Tether may be under investigation for sanctions and anti-money laundering violations.

Tether, more especially USDT, is the world’s leading stablecoin issuer. Stablecoins, a subset of the cryptocurrency market typically based on the dollar or other non-volatile assets, represent the more steady side of transactions in otherwise volatile cryptocurrencies.

According to the Wall Street Journal report, released on Friday, prosecutors from the Manhattan U.S. attorney’s office were in charge of the federal probe. It referenced anonymous sources allegedly with knowledge of the situation.

The Manhattan U.S. attorney’s office refused to comment, on the matter. Likewise, requests for a statement from the Treasury Department’s Financial Crimes Enforcement Network were not immediately answered.

Tether and its CEO have maintained that the ten-year-old corporation is working with governments despite previously refusing to cooperate. “It would be difficult to find another financial company that matches the level of cooperation with law enforcement and the number of relationships with agencies that Tether has in 45 countries, including the FBI and the U.S. Secret Service,” said Arduino, who attended the event on its 40th anniversary.