Bloomberg reported that more than three years after initial allegations of a federal probe into the cryptocurrency stablecoin Tether, the matter is still a “possible” criminal prosecution. Bitcoin’s price soared in response to the announcement, temporarily exceeding $40,000 for the first time since mid-June.
According to sources, Hong Kong officials detained four individuals in connection with a $155 million money laundering scam. Officials said the guys, aged 24 to 33, had conducted Tether transactions on a trading website. Cryptocurrencies have long been used in crime because they give anonymity and are difficult to track.