Category: Tether

China Cracks Down: How Will Tether Adapt to Tighter Enforcement?

The People’s Bank of China (PBoC) office in Huizhou City announced Thursday, October 23rd, that three gambling sites were shut down and 77 individuals were arrested in connection with alleged money laundering. The allegations involve the suspects taking advantage of Tether USDT, a cryptocurrency pegged to the US Dollar, in their attempts to “whitewash” or […]

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Chinese Police Cracks Down Cross-Border Gambling Sites Using Tether [USDT]

The world’s leading stablecoin, Tether has been engulfed with many controversies. In the latest development, the People’s Bank of China has revealed a high profile case of crack down on cross-border gambling websites that used the stablecoin USDT. It is important to know that gambling and casinos are illegal in mainland China, and cryptocurrencies such […]

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China Drafts Law to Legalize Digital Yuan, Outlawing Competitors

China Drafts Law to Legalize Digital Yuan, Outlawing Competitors

China’s central bank, the People’s Bank of China (PBOC), has drafted a law to legalize the digital yuan and outlaw digital currencies issued by anyone else competing with it. Meanwhile, the central bank has been cracking down on gambling sites that use the stablecoin tether. China Drafts Law to Recognize Digital Yuan The People’s Bank […]

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Tether, And Not PayPal, Boosted Bitcoin [BTC] Price Above $13,000

It nearly 24 hours that payments giant PayPal announced the launch of its crypto trading services on Wednesday, October 21. Later on the day, the Bitcoin price surged past $13,000 as the bulls raged-in. Many attribute this BTC price surge to the PayPal news. However, there was a silent player possibly behind the Bitcoin price […]

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Market Update: Bitcoin Nears $13,000, Holds Record-Breaking 87-Day Streak Above $10K

Market Update: Bitcoin Nears $13,000, Holds Record-Breaking 87-Day Streak Above $10K

Cryptocurrency markets have seen intense gains on Wednesday after the payment processor Paypal announced it would be supporting digital currencies. At the time of publication, the market cap of all 7,000+ digital assets has gained 5.6% hovering above $379 billion during the afternoon trading sessions. Digital currency markets have increased a great deal during the […]

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Solana becomes fourth blockchain to support USDC

Solana becomes fourth blockchain to support USDC

Solana — the blockchain behind decentralized exchange Serum — will now support stablecoin USDC, according to an announcement by Circle.  Launched by Centre, a consortium made up of Circle and Coinbase, USDC is the second-largest stablecoin by total supply behind Tether’s USDT. In total, USDC’s supply stands at $2.7 billion, according to data from The […]

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New data show how dominant Tether has become as a trading pair on crypto exchanges

New data show how dominant Tether has become as a trading pair on crypto exchanges

Bitcoin used to be far and away the most popular trading pair at crypto exchanges. These days, the distinction belongs to Tether. Around 70% of the trading volume at exchanges is now denominated in Tether, while 15% is denominated in bitcoin and another 4% is in other stablecoins.   In the first quarter of 2017, bitcoin […]

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Unsealed DOJ documents say alleged money launderers tried to bribe U.S. officials using Tether

Unsealed DOJ documents say alleged money launderers tried to bribe U.S. officials using Tether

The Department of Justice (DOJ) has unsealed documents related to a drug smuggling case alleging that a cartel attempted to bribe U.S. officials and purchase U.S. passports using the cryptocurrency Tether. As first reported by Decrypt, the documents, which were published September 24, accuse six individuals of laundering millions for drug cartels over the course […]

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