U.S. federal authorities are investigating Tether, the leading stablecoin issuer, for potential violations of U.S. sanctions and anti-money laundering regulations. The inquiry, led by the Manhattan U.S. Attorney’s Office, focuses on Tether’s alleged involvement in illicit activities like drug trafficking and terrorism financing. The Treasury Department is also reportedly considering imposing sanctions on Tether, raising concerns about the stablecoin’s growing influence in global finance.
In the wake of the SEC lawsuit filed against Ripple in 2021, the company has shifted to using the USDT stablecoin as its bridge currency for On-Demand Liquidity (ODL) transactions. This move, highlighted by blockchain analyst Crypto Eri, aligns with Ripple’s commitment to adhering to regulatory standards.
Leading exchange and Web3 technology company, OKX, has announced the upcoming listing of the SAFE/USDT spot pair. SAFE, the token fueling the innovative on-chain asset custody protocol, Safe, will be available for trading once liquidity requirements are met. Safe, with over $1 billion in assets secured, aims to facilitate the transition to smart accounts through open-source technologies and initiatives.
