Tether Denies Role in Iran's Sanctions Evasion via USDT

A recent Senate report claims that USDT, the dollar-pegged token issued by Tether, has become a key tool for Iran to evade U.S. sanctions.

The report from Senate Democrats on the Permanent Subcommittee on Intelligence found that 84% of 846 sanctioned wallets tied to Iran transacted almost exclusively in USDT.

Tether responded to the report, stating that it has supported U.S. law enforcement and sanctions authorities in freezing approximately $550 million in USDT linked to Iran's central bank and sanctions networks this year.

The company's CEO, Paolo Ardoino, said that Tether has worked with global authorities for years to trace and stop illicit activity, including more than $4.9 billion in frozen assets overall.