Senate Report Reveals Iran's USDT Sanctions Evasion Tactics

A recent Senate report has shed light on Iran's alleged use of Tether's USDT stablecoin to evade U.S. sanctions.

The report, released on September 28 by Democratic members of the Senate Permanent Subcommittee on Investigations, found that 84% of sanctioned wallets linked to Iran used USDT.

Tether has responded by stating that it has helped U.S. law enforcement and sanctions authorities freeze about $550 million in USDT linked to Iran's central bank and related sanctions-evasion activity this year.

The report's findings have put pressure on Tether, with critics arguing that the company did not act quickly enough to freeze some wallets.