Tether Freezes Half-Billion Dollars in Iran-Linked USDT Amid Sanctions Crackdown

Tether has frozen nearly $550 million in Iran-linked USDT, according to its own statement. The move comes as part of Washington's campaign against sanctions-evasion networks and follows the Treasury Department's launch of Operation Economic Outcast.

The company claims it works with over 340 law enforcement agencies across 67 countries and has supported over 2,900 global investigations. It has also aided in freezing over $4.9 billion in assets, with over $2.4 billion linked to U.S. officials.

Tether's CEO, Paolo Ardoino, said the company's approach is based on the transparency of public blockchains. He added that Tether can act when credible information is provided by law enforcement.