Tether defends itself against WSJ accusations
On March 11, Tether wrote that it continued to be the target of outdated, inaccurate and misleading reports and accusations of the Wall Street Journal. The lat…
On March 11, Tether wrote that it continued to be the target of outdated, inaccurate and misleading reports and accusations of the Wall Street Journal. The latest report of the Wall Street Journal implied that Tether’s operation was not regulated. However, this report conflicts with the facts. In fact, Tether operates under a large number of financial supervision and cooperates with global law enforcement departments almost every day, including regular cooperation with the United States Department of Justice and other top U.S. agencies, and does not provide services to U.S. customers.
Tether: The report of the Wall Street Journal is not true. In fact, the company has cooperated with the global law enforcement department for a long time
Analysis based on this information:
Tether, the popular stablecoin, has come under scrutiny once again as the Wall Street Journal (WSJ) published a report claiming that Tether’s operations are not regulated. In response, Tether strongly defended itself, stating that the WSJ’s report is outdated, inaccurate, and misleading.
Tether emphasized that it is regulated and operates under financial supervision. It also noted that it cooperates with various global law enforcement agencies, including those in the United States. This statement is a direct response to the WSJ’s claims that Tether is not regulated and does not follow basic AML (anti-money laundering) practices.
Tether’s message shows its willingness to work collaboratively with regulatory bodies and law enforcement. By cooperating with law enforcement and following financial regulations, Tether hopes to show its commitment to transparency and legitimacy.
The statement also mentions that Tether does not provide services to U.S. customers, contrary to the WSJ’s implication that Tether is operating in the United States without proper oversight. This raises the question of whether Tether is planning to comply with U.S. regulations in the future, or whether it will continue to avoid the U.S. market altogether.
In conclusion, Tether’s statement is a clear attempt to distance itself from the accusations made by the WSJ. It emphasizes Tether’s commitment to regulation and law enforcement, indicating its attempts to gain legitimacy in the eyes of regulators and the public. However, the ongoing scrutiny of stablecoins and Tether’s regulatory compliance will continue to be a hot topic, and it remains to be seen how Tether will navigate these challenges.
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