US Senate Says 84% of Iran-Linked Sanctioned Wallets Traded in USDT
JH Kim
Summary
- The US Senate Permanent Subcommittee on Investigations said 84% of 846 sanctioned Iran-linked cryptocurrency wallets processed transactions in Tether (USDT).
- The subcommittee said USDT was used as a key payment tool for the Iranian regime and to finance armed groups including Hezbollah.
- The report criticized Tether for not freezing sanctioned wallets quickly enough, based on the findings of a US Senate investigation.
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Of the 846 cryptocurrency wallets linked to Iran and sanctioned by the US and Israel, 84% processed all or most transactions in Tether's USDT, a US Senate investigation found.
Cointelegraph reported on September 28 that the US Senate Permanent Subcommittee on Investigations disclosed the finding in an investigative report.
The subcommittee said USDT had served as a key payment tool for the Iranian regime and had also been used to finance armed groups including Hezbollah.
The report also criticized Tether for failing to freeze sanctioned wallets quickly enough, according to the Senate investigation.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.