New US bill seeks to ban officials from dealing with Tether over China ties
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The CLARITY Act aims to ban US government officials from transacting with certain Chinese blockchain firms like iFinex and Tether.
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The act comes amid concerns about Tether's previous holdings of Chinese securities and loans.
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Tether had denied involvement with Evergrande but held securities from major Chinese state banks.
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The SEC is monitoring Tether's operations including its offering of USDT loans after pledging to cease such loans.
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The bill underscores Washington's growing worries about Chinese ties in crypto as Tether is a major stablecoin issuer.