U.S. Senate Says 84% of Iran-Linked Sanctioned Wallets Transacted in USDT
Summary
- The U.S. Senate Permanent Subcommittee on Investigations said 84% of 846 sanctioned cryptocurrency wallets conducted all or most of their transactions in Tether (USDT).
- The subcommittee said USDT was used as a key payment method by the Iranian regime and to finance armed groups including Hezbollah.
- The report criticized Tether for failing to freeze sanctioned wallets quickly enough, based on findings from the U.S. Senate investigation.
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Among 846 cryptocurrency wallets linked to Iran and sanctioned by the U.S. and Israel, 84% conducted all or most of their transactions in Tether's USDT, a U.S. Senate investigative report found.
Cointelegraph reported on September 28 that the finding came from the U.S. Senate Permanent Subcommittee on Investigations.
The subcommittee said USDT was used as a key payment method by the Iranian regime and to finance armed groups including Hezbollah.
The report also criticized Tether for failing to freeze sanctioned wallets quickly enough. The allegation was based on the Senate investigation's findings.
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