Tether refutes reports alleging those backing its stablecoin project have falsified documents to maintain ties to the banking industry.
In a new blog post, Tether to object Article published by The Wall Street Journal claim Backers of widely traded stablecoin and cryptocurrency exchange Bitfinex used forged documents and dummy companies to open bank accounts.
“The Wall Street Journal’s report on the age-old cliché claims is wholly inaccurate and misleading. We comply with anti-ring, customer verification, and anti-terrorist financing legal requirements.
Bitfinex and Tether are proud partners of global law enforcement and regularly and voluntarily assist the U.S. Department of Justice and other law enforcement agencies around the world to prevent money laundering, Preventing terrorism and other crimes.
These unjustified attacks do not distract us from continuing our efforts and delivering the most liquid and reliable stablecoin experience.
The Wall Street Journal reported in 2018 that the people behind Tether turned to forged documents and shell companies to ensure they could continue to deposit and withdraw without being blocked by the traditional financial system. doing.
One of the emails reportedly sent by Tether Holdings owner Stephen Moore claimed that China’s leading Tether trader was “providing fake sales invoices and contracts for every deposit and withdrawal. They are trying to circumvent the banking system by doing so,” he said.
According to reports, Moore also sent an email stating that he should stop using fake sales invoices and contracts.
“I don’t want to claim any of the above in a potential fraud/money laundering case.”
The news publication also reported that Tether is currently under investigation by the US Department of Justice and the US Attorney’s Office in Manhattan.
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