Bitfinex and Tether must pay $42.5 million in fine


The US Commodity Futures Trading Commission (CFTC) has ordered Bitfinex and Tether must pay a $42.5 million fine to settle claims. $ 41 million came from Tether, which was accused of making “false or misleading claims” that the USDT stablecoin is 100% backed by real assets. The remaining $ 1.5 million must be paid by Bitfinex for providing access to futures contracts for US residents without obtaining a special license. The court also ordered the company to introduce technologies that would prevent illegal transactions.

Representatives of the regulator added that this case testifies to the protection of participants in the US crypto market.

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