Tether's CEO, Paolo Ardoino, has dismissed claims that the stablecoin issuer is under investigation by the U.S. government, following a report from The Wall Street Journal that suggested possible violations of sanctions and anti-money-laundering regulations. Ardoino tweeted that there is no indication of such investigations, criticizing the publication for recycling unfounded rumors. The report mentioned that U.S. prosecutors were looking into whether Tether had facilitated criminal activities, including drug trafficking. Tether, the largest stablecoin and a key player in the cryptocurrency market, is often scrutinized over transparency regarding its reserves, which have not been independently audited by major accounting firms. The firm emphasized its compliance efforts and transparency with law enforcement. The cryptocurrency market has seen increased regulatory attention, particularly concerning its use in illicit transactions. Despite past controversies, Tether remains integral to the crypto ecosystem, often utilized for trading and investing without relying on traditional banking methods.

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