The United States Department of Justice (DOJ) has transferred the case against Tether within the department, Bloomberg has learned, citing people familiar with the matter.
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Although no details regarding the case have been revealed, the report says US Attorney Damian Williams in Manhattan is now handling the case. Legal experts told Bloomberg in a commentary that the move might is unusual, as it underscores the "uncertain legal terrain" in the rapidly developing realm. Despite the news, no official charges have been filed against Tether.
Tether said in an official statement that Bloomberg "has proven themselves time and time again to be desperate for attention in an industry that they just do not understand." The issuer of the USDT stablecoin added:
"This most recent attempt to tarnish the reputation of Tether, one of the industry's most significant contributors is yet another example of this behavior. This is Bloomberg recycling old news that isn't even factual."
Tether pointed out that Bloomberg had earlier reported on the DOJ's investigation in November 2018 and the latest report demonstrates "incompetent journalism and inability to separate fact from falsity."
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