Tether Freezes $550M in Iran-Linked USDT Amid Sanctions Crackdown

Tether, a popular stablecoin issuer, has announced that it assisted in freezing nearly $550 million worth of USDT linked to an Iranian entity.

The move was reportedly made in compliance with sanctions imposed by the US Office of Foreign Assets Control (OFAC).

This development comes as part of a larger effort to crack down on illicit activities involving cryptocurrency, particularly those related to Iran and other sanctioned countries.