Tether Faces Unfair Accusations from the Wall Street Journal

03/11/2023 06:04 • Tech Trends • 81 views

On March 11, Tether wrote that it continued to be the target of outdated, inaccurate and misleading reports and accusations of the Wall Street Journal.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, recently spoke out against the unsubstantiated and harmful accusations made by the Wall Street Journal. Despite operating under a wide range of financial supervisions and daily cooperation with global law enforcement departments, the Wall Street Journal implied that Tether’s operations were unregulated. This claim is unfounded and reflects poorly on the Wall Street Journal’s journalistic integrity.

Tether has always been transparent about its operations and has worked hard to comply with relevant laws and regulations. As a stablecoin, Tether is particularly concerned with maintaining a stable value, and this necessitates reliable financial infrastructures and rigorous regulations. Tether is subject to numerous audits, including a regular attestation from the auditing firm Moore Cayman, and has consistently provided financial reports to its users. Tether’s operations also adhere to the standards of the Financial Action Task Force (FATF), a global anti-money laundering platform. In short, Tether is operating in full compliance with the law and in close cooperation with regulatory bodies.

Furthermore, Tether has developed a strong relationship with global law enforcement, particularly in the U.S. Tether works with the U.S. Department of Justice and other top U.S. agencies to ensure that illegal activities are not conducted using Tether’s services. Tether also does not provide services to U.S. customers, which means that it is not subject to U.S. regulation. Tether’s regulatory compliance proves that it is an ethical and law-abiding business, and it should not be treated unfairly by false accusations from the Wall Street Journal.

In conclusion, Tether’s response to the Wall Street Journal’s claims highlights the importance of reliable and accurate journalism. False claims can have serious consequences for businesses and individuals, and it is essential that journalists exercise caution and accuracy in their reporting. Tether’s regulatory compliance and cooperation with law enforcement demonstrate that it is a reliable and trustworthy business, and it deserves to be treated as such.

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