Tether stated it is committed to blocking illicit finance and has helped freeze $550M in Iran-linked USDT throughout 2026, including $344M in April connected to the Central Bank of Iran. The Senate report examined 846 crypto wallets sanctioned by the US and Israel and found 84% transacted almost exclusively in USDT to evade sanctions and fund groups including Hezbollah. Tether says it currently works with 340 law enforcement agencies across 67 countries and has frozen more than $4.9B in assets globally.
Tuesday, October 20, 2026
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Senate Democrat Urges Tether Probe Over Iran Shadow Banking Role
Crypto22 days ago
The issuer of the USDT stablecoin faces calls for a federal investigation by the US Department of Justice and Treasury after a Senate report linked the company to Iranian financial networks. Senator Richard Blumenthal, the top Democrat on the Senate Permanent Subcommittee on Investigations, urged authorities on Monday to hold Tether accountable for potential sanctions violations. The investigation concludes that Tether's digital assets are central to Iran's shadow banking system and that a lack of oversight by the Trump administration undermined US national security.
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