Tether, a cryptocurrency company, has been accused of money laundering.

During the investigation, it is being determined whether Tether was used to facilitate illegal activities (drug trafficking, terrorism, and hacking).

“The U.S. Department of the Treasury is also considering the possibility of imposing sanctions on Tether due to its widespread use by individuals and groups that are under sanctions. Such sanctions would prohibit Americans from doing business with the company,” explains a source.

The Tether USDT stablecoin, pegged to the dollar, has gained popularity. However, this has also raised concerns among officials about the potential for abuse.

The Department of Justice's investigation into the company has been ongoing for several years and initially focused on alleged banking fraud. Recently, attention has shifted to the potential role of cryptocurrency in facilitating illegal activities.

Tether denies any wrongdoing and claims to be actively cooperating with law enforcement agencies.