Tether says the NYAG handed over documents to CoinDesk from its 2021 settlement, including bank statements.
In February 2021, the NYAG agreed with Tether to cease activity with those living in New York and pay $18.5 million in fines. The investigation found that Tether at times lacked banking access and that its stablecoin was not always backed 1:1 with cash.Freedom of Information Law request with the NYAG for the documents gathered during the investigation. Initially Tether fought the request but it said today that it dropped its opposition.
The documents include a lot of names of private individuals who were Tether's customers at the time, according to a source familiar with the matter. "The published information, if properly read and interpreted, only demonstrates publicly the legitimacy of Tether’s business and the existence of its reserves," Tether said in a© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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