CEO of Tether accused Circle of defrauding the US Congress
A top Circle manager at a congressional hearing called on the authorities to impose sanctions against Tether. The CEO of the latter, in response, accused a competitor of misleading politicians and "spreading lies."
Paolo Ardoino, CEO of Tether, accused Circle of "spreading lies" because of a statement by Caroline Hill, director of Global Policy and Regulatory Strategy. This is reported by CryptoSlate.
On February 16, the Financial Services Committee of the House of Representatives of the US Congress held hearings on methods of countering illegal transactions in the field of crypto assets. Among the speakers was Caroline Hill, Circle's Director of Global Policy and Regulatory Strategy.
Among other things, she stated the following:
"I hope they [the U.S. Treasury Department] will take this seriously, given Tether's reputation and the evidence that points to complicity in terrorist financing."
In a comment to the publication, CEO Paolo Ardoino stated the following:
"Misleading Congress is a shocking act of desperation. Those who do this should be ashamed of themselves. Spreading lies and running around in circles will lead to nothing."
According to the head of the firm, Tether has done "more than anyone" to combat illegal activities in the crypto asset sector. He assured the publication that the company will continue these initiatives and plans to deepen cooperation with the authorities.
It is noteworthy that earlier JPMorgan Chase experts stated that the U.S. Office of Foreign Assets Control may oversee Tether.
Source: https://incrypted.com/ceo-tether-obvynyl-circle-v-obmane-kongressa-ssha/
