US Department of Justice Investigates Tether (USDT) Over ‘Possible’ Sanctions and Anti-Money Laundering Rule Violations: Report

The US Department of Justice has launched an investigation into stablecoin company Tether, according to a new report.

The company and its dollar-pegged stablecoin USDT are under criminal investigation, led by the U.S. attorney’s office in Manhattan. reports the Wall Street Journal.

The DOJ is investigating “possible” violations of sanctions and anti-money laundering regulations, according to people familiar with the matter.

Tether CEO Paolo Adroino commented on the news: reports Reuters says the company has seen “no indications” that an investigation is underway.

The Wall Street Journal report has led to a minor de-peg for USDT, with the coin designed to remain at $1 trade now at $0.9993 at the time of publication.

USDT is the largest stablecoin on the market, with a market capitalization of $119 billion.

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