Cryptocurrencies
U.S. Regulators Subpoena Crypto Exchange Bitfinex, Tether
- Firms say they routinely get ‘legal process’ from regulators
- Tether has yet to verify that it holds $2.3 billion in reserve
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U.S. regulators are scrutinizing one of the world’s largest cryptocurrency exchanges as questions mount over a digital token linked to its backers.
The U.S. Commodity Futures Trading Commission sent subpoenas on Dec. 6 to virtual-currency venue Bitfinex and Tether, a company that issues a widely traded coin and claims it’s pegged to the dollar, according to a person familiar with the matter, who asked not to be identified discussing private information. The firms share the same chief executive officer.