US prosecutors have alleged that a payments business transferred hundreds of millions of dollars illegally under the direction of EQIBank, a financial institution where Tether reportedly holds some assets, according to CoinTelegraph. This development has drawn attention to the role of EQIBank in facilitating large-scale fund movements.
CoinTelegraph also reported that Tether has stated it maintains limited exposure to EQIBank, which has recently been linked to an $84 million seizure by US authorities. This seizure highlights ongoing regulatory scrutiny around entities connected to crypto asset transfers.
For Japanese investors and market participants, this case underscores the increasing regulatory oversight on crypto-related banks and payment services, emphasizing the importance of assessing counterparty risks in digital asset holdings.