Tether Says WSJ Article on Shady Schemes is Misleading
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Tether, the issuer of the stablecoin USDT, has said the findings in an article in The Wall Street Journal (WSJ) are "outdated statements" and are "inaccurate and misleading."

The publication published an article on March 3 alleging that in 2018 Tether and Bitfinex used shell companies to provide access to the banking system.

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The WSJ indicated citing some emails that intermediaries in China behind the firms forged documents. At the same time, Tether and Bitfinex allegedly "used various means" to circumvent restrictions on access to financial institutions.

The issuer said in a statement:

"Bitfinex and Tether have world-class compliance programs and adhere to applicable Anti-Money Laundering, Know Your Customer, and Counter-Terrorist Financing legal requirements. These unfair attacks will not distract us from continuing with those efforts and offering the most liquid and reliable stablecoin experience, which the market has clearly recognized by making us the leaders in the industry."

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Paolo Ardoino, the company's CTO, has called The Wall Street Journal article "a ton of misinformation and inaccuracies."

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