Tether Assists in Freezing $550M in Iran-Linked Funds Amid Sanctions Evasion Allegations
Tether, the issuer of the USDT stablecoin, has claimed to have assisted authorities in freezing nearly $550 million in Iran-linked funds this year. The company says it has been working closely with international law enforcement for years and has frozen over $4.9 billion in assets globally, including more than $2.4 billion connected to US authorities.
In April, Tether helped freeze over $344 million linked to the Central Bank of Iran. This comes as Democratic investigators on the Senate Permanent Subcommittee on Investigations released a report alleging that USDT had become a key channel for Iran to evade sanctions.
According to Tether's CEO Paolo Ardoino, 'Tether has consistently demonstrated that USDT is not a haven for sanctioned actors, terrorist organizations or criminal networks.'