The SEC's next target is Tether (USDT)?
Bitfinex chief technology officer Paolo Ardoino took to Twitter this week to dispel concerns that Tether (USDT) could be a target for the US Securities and Exchange Commission (SEC).
(The Bitfinex CTO said, "Tether (USDT) is no longer a target for the SEC.)
In response to a message from CryptoQuant CEO Kyonju, Ardoino said Tether adheres to the strict Know Yor Customer / Anti-Money Laundering Anti-Money Laundering Rules set by the Banking Bank Rules Network or FinCEN. One is people who say Tether has no control over it. And go out to get some skeptical results.
Ki Young tweeted: "If the SEC's next target is Tether, it will be very bad for this bull market. "Because this market depends a lot on the USDT."
However, Ardoino pointed to Tether's KYC / AML compliance, He did not address Ki Young's main concern that he might fall under stable securities laws.
In 2019, New York Attorney General Tether and his Bitfinex affiliates were accused of making unregistered security offers. According to the documents, the company issued a usdt to investors to make it clear that the company could not fully support US dollar deposits.
Tether's USDT, which has no contact with the US dollar, has been a topic of discussion for many years. In 2018, finance professor John Griffin and his partner Amin Shams argued that the USDT used to control Bitcoin prices. BTC rose to $ 20,000.
In 2018, tether and Bitfinex were summoned by the Commodity Exchange Commission to prove that the USDT has a dollar-equivalent reserve. However, despite the allegations, no company has been accused of making a mistake.