Stablecoin issuer Tether has responded to claims that it deactivated the accounts of major crypto firms, including MoonPay. Here are the most important things to know about this situation:
1. Tether denies the allegations: In a statement released on Twitter, Tether denied the allegations that it had deactivated the accounts of several major crypto firms, including MoonPay. The company stated that it had not taken any action against these companies and that their accounts were still active.
2. MoonPay confirms its account was deactivated: Despite Tether’s denial, MoonPay confirmed that its account had been deactivated by Tether. The company stated that it had received no explanation for the deactivation and that it was working to resolve the issue.
3. The reasons for the deactivation are unclear: It is currently unclear why Tether deactivated the accounts of these major crypto firms. Some have speculated that it may be related to regulatory concerns or issues with compliance.
In summary, Tether has denied allegations that it deactivated the accounts of major crypto firms, including MoonPay. However, MoonPay has confirmed that its account was deactivated and the reasons for this action remain unclear. This situation highlights the ongoing challenges faced by crypto firms in navigating complex regulatory environments and maintaining compliance with evolving regulations.