Tether (USDT), the largest stablecoin issuer in the world, is finding its banking partner, Britannia Financial, at the center of a legal battle. Arbitral International, a British Virgin Islands corporation, is suing Britannia over a $1 billion Tether deposit.
Tether’s Banking Choice Backfires
According to a recent Financial Times report and court filings in the High Court of Justice in London, Tether has a deposit of over $1 billion with a subsidiary of Britannia Financial Group.
This deposit is central to the legal dispute between Britannia Financial and Arbitral International. Tether’s decision to place funds with Britannia Financial, founded by Venezuelan-Italian banker Julio Herrera Velutini, comes amid allegations of bribery against Herrera Velutini by US authorities. Britannia Financial, however, has not been accused of any wrongdoing.
The stablecoin issuer itself has faced regulatory scrutiny in the past. The Commodity Futures Trading Commission (CFTC) previously alleged
We współpracy z: https://bitcoinist.com/tether-partnership-hit-with-lawsuit-over-1b-deposit/
