- Circle’s top manager at a congressional hearing called on authorities to impose sanctions against Tether.
- The latter’s CEO responded by accusing the competitor of misleading politicians and “spreading lies.”
CEO of Tether Paolo Ardoino accused the firm Circle in “spreading lies” because of the statement of the director of global policy and regulatory strategy Caroline Hill. This is reported by CryptoSlate.
What’s the issue here?
On February 16, the U.S. House of Representatives Financial Services Committee held a hearing on how to counter illegal cryptoasset transactions. Among the speakers was Circle’s Director of Global Regulatory Policy and Strategy, Caroline Hill.
Among other things, she stated the following:
“I hope they [the US Department of Treasury] take this seriously, given Tether’s reputation and the data that points to aiding and abetting terrorist financing.”
Tether’s response
In a comment to the publication, CEO Paolo Ardoino said the following:
“Misleading Congress is a shocking act of desperation. Those who act in this manner should be ashamed of themselves. Spreading lies and running around in circles will get us nowhere.”
According to the head of the firm, Tether has done “more than anyone” to combat illegal activity in the cryptoasset sector. He assured the publication that the company will continue these initiatives and plans to deepen cooperation with the authorities.
Notably, earlier experts at JPMorgan Chase said that the US Office of Foreign Assets Control may supervise Tether.
The CEO of the company noted that the bank is “jealous” of the organization because of the primacy in the evolution of financial and payment services.
