Ethereum

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<ul class="wp-block-list">
 <li>Federal investigations target Tether's alleged use in illicit activities, with both the Justice and Treasury Departments examining the stablecoin issuer.</li>  
 <li>Tether denies the allegations, citing collaboration with law enforcement and calling the claims unfounded and reckless.</li>  
 <li>News of the investigations shook crypto markets, causing fluctuations in Bitcoin, Ethereum, and other major cryptocurrencies.</li> 
</ul>  
<p>Tether, a major stablecoin issuer, is allegedly under investigation by the United States Department of Justice and Treasury Department over possible ties to illicit conduct. The Wall Street Journal obtained exclusive information on October 25&nbsp; using informants; federal authorities are focusing on Tether with concerns about money laundering and sanction breaches. This news caused several fluctuations in the prices of the most popular cryptocurrencies.</p>  
<h2 class="wp-block-heading" id="h-justice-department-examines-links-to-criminal-connections">Justice Department examines Links to Criminal Connections</h2>  
<p><a href="https://www.wsj.com/finance/currencies/federal-investigators-probe-cryptocurrency-firm-tether-a13804e5" target="_blank" rel="noopener noreferrer nofollow">According</a> to the newspaper, the action initiated by the&nbsp; Southern District of New York investigations bureau concerns any criminal actions that may have been conducted through Tether (USDT). Authorities are currently investigating the claims regarding when Tether was employed to finance criminal activities or layering proceeds. It is said that this inquiry has taken several years, its recent highlight with issues touching on digital currencies.</p>  
<h2 class="wp-block-heading" id="h-treasury-considers-sanctions-on-tether">Treasury Considers Sanctions on Tether</h2>  
<p>At the same time, the US Treasury Department intends to introduce restrictions against<a href="https://cryptonewsland.com/tethers-growth-sparks-hope-could-october-bring-a-bitcoin-boom/" target="_blank" rel="noopener noreferrer nofollow"> Tether </a>due to possible links with individuals and organizations on the American lists. First, questions arise concerning the sources of Tether and the fact that some sanctioned parties deploy it, such as Russian arms dealers and Hamas.&nbsp;</p>  
<p>Tether’s CEO, Paolo Ardoino, dismissed the report by referring to the entire story as “old noise” and accused the publication of recycling old allegations with no fresh evidence. Tether snapped back at the report as “outright irresponsible” and noted that no official law enforcement body has publicly admitted these accusations. Furthermore, Tether informed its readers about its continuous cooperation with worldwide law enforcement and stated that it helped freeze more than $108 million in USDT related to illicit operations.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/paoloardoino/status/1849876338573799912
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-crypto-market-reacts-to-report">Crypto Market Reacts to Report</h2>  
<p>The<a href="https://cryptonewsland.com/bitcoins-rising-dominance-reshapes-cryptocurrency-market-hits-57/" target="_blank" rel="noopener noreferrer nofollow"> cryptocurrency market</a> showed signs of instability following the report. Bitcoin, Ethereum, and other major cryptocurrencies experienced minor downturns, reflecting traders' concerns over the news. Bitcoin fell from $67,367 to $67,016, while Ethereum saw a similar drop, underlining the ongoing sensitivity in the crypto space to regulatory pressures.</p> 
<p>The post <a href="https://cryptonewsland.com/us-government-probes-tether-as-crypto-markets-react-to-allegations/" rel="noopener noreferrer nofollow">US Government Probes Tether as Crypto Markets React to Allegations</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

US Government Probes Tether as Crypto Markets React to Allegations

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