These actions come as Senate Democrats prepare to release a report on Monday detailing how Iran uses the cryptocurrency to bypass a U.S. sanctions dragnet. The investigation, first reported by The Wall Street Journal, found that 84% of more than 800 sanctioned crypto wallets used USDT either exclusively or predominantly. Lawmakers claim the token has become a primary payment channel for the regime to move funds globally and finance proxy groups such as Hezbollah.
Tuesday, October 20, 2026
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Tether Freezes $550M of Iran Linked USDT After Senate Investigation
Crypto23 days ago
The issuer of the USDT stablecoin assisted U.S. law enforcement in seizing digital assets connected to the Central Bank of Iran and its affiliated sanctions networks. Tether has frozen nearly $550 million in tokens throughout 2026, including more than $344 million across two addresses in April that the Office of Foreign Assets Control later identified as identifiers for the Iranian central bank. An additional $130 million was frozen across four wallets in July. The company currently coordinates with more than 340 law enforcement agencies in 67 countries and has seized over $4.9 billion in assets worldwide.
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