???? Tether Refutes Allegations Backed By Chinese Companies In...
18 Jun 2023
Crypto News Source
???? Tether Refutes Allegations Backed By Chinese Companies In 2021
Documents obtained as part of the New York Attorney General’s investigation against Tether corroborated reports that it had assets issued by Chinese entities to back up its USDT reserves. Long-held concerns that Tether’s USDT stablecoin was backed by Chinese securities were proven in papers discovered as part of the attorney general’s probe against Tether in 2021. According to a Bloomberg investigation in October 2021, Tether had billions in short-term loans to Chinese enterprises.
The stablecoin issuer apparently canceled up to 29 accounts held by prominent crypto players two years ago, according to facts in papers disclosed by the New York Attorney General (NYAG). The majority of the people on the list seem to have had their accounts canceled for various reasons. Tether answered that it does not wish to comment on any specific connection, however, everyone did pass the stringent compliance checks at onboarding and continuous monitoring required by Tether’s compliance regulations. the controversial crypto lending service BlockFi, CMS Holdings, and the now-defunct crypto hedge fund Galois Capital.
Documents obtained as part of the New York Attorney General’s investigation against Tether corroborated reports that it had assets issued by Chinese entities to back up its USDT reserves. Long-held concerns that Tether’s USDT stablecoin was backed by Chinese securities were proven in papers discovered as part of the attorney general’s probe against Tether in 2021. According to a Bloomberg investigation in October 2021, Tether had billions in short-term loans to Chinese enterprises.
The stablecoin issuer apparently canceled up to 29 accounts held by prominent crypto players two years ago, according to facts in papers disclosed by the New York Attorney General (NYAG). The majority of the people on the list seem to have had their accounts canceled for various reasons. Tether answered that it does not wish to comment on any specific connection, however, everyone did pass the stringent compliance checks at onboarding and continuous monitoring required by Tether’s compliance regulations. the controversial crypto lending service BlockFi, CMS Holdings, and the now-defunct crypto hedge fund Galois Capital.
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