Tether responds to account deactivation controversy, raises compliance checks
Stablecoin issuer Tether has responded to claims that it deactivated the accounts of major crypto firms, including MoonPay. Tether, the company behind market-leading stablecoin Tether (USDT), has addressed concerns regarding its operational decisions. According to documents released by the New York Attorney General (NYAG), Tether reportedly deactivated approximately 29 account s belonging to prominent cryptocurrency players in 2021. It appears that most individuals on the list had their account s terminated for different reasons. While the reasons for the account terminations were not disclosed, Tether responded by indicating that it is unwilling to comment on individual relationships. However, the company clarified that all individuals had undergone rigorous compliance checks during onboarding, as well as ongoing monitoring, as mandated by Tether’s compliance policies. Among the account s that were deactivated, notable entities such as MoonPay, BlockFi, CMS Holdings (a crypto inv...