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

Tether, the issuer of the popular stablecoin USDT, has been working closely with international law enforcement to prevent sanctioned actors from using its digital currency. In a statement on Monday, Tether said it helped authorities freeze nearly $550 million in Iran-linked USDT this year.

The company's efforts resulted in more than $4.9 billion in assets being frozen globally, including over $2.4 billion connected to US authorities. This includes the freezing of more than $344 million linked to the Central Bank of Iran in April and over $130 million across four wallets this year.

Tether CEO Paolo Ardoino said that the company has consistently demonstrated that USDT is not a haven for sanctioned actors, terrorist organizations or criminal networks. He emphasized Tether's cooperation with authorities, citing the example of the Department of Justice, FBI, Secret Service, and other agencies working together to trace and freeze assets.