Federal prosecutors are targeting a Montana payments firm and a Caribbean bank accused of moving money without a license.
- US prosecutors are seeking to seize $84.2 million from a Montana payments firm, Capstone Ltd., and a Caribbean bank, EQIBank, for allegedly operating as unlicensed money transmitters.
- The funds are linked to processing payments for Tether, with a significant portion originating from Capstone's Wells Fargo account.
- Both Capstone and EQIBank deny wrongdoing, while Tether states it had no knowledge of Capstone's alleged conduct and its exposure is minimal.
Topics: Asset types, Legal regulatory, Jurisdictions, Stablecoins digital cash, Enforcement actions litigation, Regulatory sandboxes pilots
Tags: #tether #usdt #capstoneltd #eqibank #moneytransmitter #civilforfeiture #departmentofjustice #unlicensedmoneytransmitter #dominica #montana
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