US Senate Finds Iran Using Tether USDT to Bypass Sanctions

A US Senate investigation has found that Iran is widely using Tether's stablecoin USDT to bypass American sanctions, according to a report by The Wall Street Journal.

The investigation reveals that Iranian entities are utilizing peer-to-peer and over-the-counter channels to move value across borders without passing through the US dollar-denominated banking system.

This is not the first time Tether has faced scrutiny over sanctions compliance, but a congressional-level finding of this nature increases the probability of forced compliance measures or new stablecoin legislation targeting offshore issuers.

Tether has not issued a public response to the Senate findings at the time of publication.