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Iran uses Tether's USDT to evade sanctions, Senate report claims

By PulseAugur Editorial · [1 sources] ·

A recent Senate report alleges that Iran is utilizing Tether's USDT stablecoin as a critical component of its shadow banking network to circumvent international sanctions. The report indicates that Iran uses USDT for international payments, to fund proxy organizations, and to acquire military equipment. While Tether states it has frozen nearly $550 million in USDT linked to Iran this year and emphasizes blockchain's transparency, the Senate report criticizes the company for not consistently freezing flagged crypto wallets. AI

RANK_REASON Senate report detailing alleged sanctions evasion by a nation-state using a cryptocurrency stablecoin. [lever_c_demoted from significant: ic=1 ai=0.1]

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Iran uses Tether's USDT to evade sanctions, Senate report claims

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Senate report detailing alleged sanctions evasion by a nation-state using a cryptocurrency stablecoin. [lever_c_demoted from significant: ic=1 ai=0.1]
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COVERAGE [1]

  1. Engadget TIER_1 English(EN) · [email protected] (Kris Holt) ·

    Senate report claims Iran is using Tether's stablecoin to evade sanctions

    Cryptocurrency linked to crime; in other news: fork found in drawer.

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