The US Department of Justice has launched an investigation into the stablecoin company Tether, according to a new report.

A criminal investigation into the company and its dollar-pegged stablecoin USDT is underway, spearheaded by the U.S. attorney’s office in Manhattan, reports the Wall Street Journal.

The DOJ is investigating whether Tether has violated sanctions and anti-money-laundering rules.

The news has triggered a small de-peg for USDT, with the coin that’s designed to remain at $1 now trading at $0.9925 at time of publishing.

USDT is the largest stablecoin on the market, with a $119 billion market cap.