COINDESK · 2026-10-19 20:22 UTC

Tether: Senator's investigation misses positive work that's led to lower Iran volumes

Tether CEO Paulo Ardoino responded to a Senate Democratic report accusing the stablecoin firm of facilitating Iran's shadow banking, claiming the probe overlooked Tether's sanctions compliance work. Ardoino stated Tether froze suspicious transactions an average of 4 weeks before OFAC and Israeli authorities formally designated them, and that Iran-linked USDT volumes declined 94% since 2023. The Senate report criticized Tether for not comprehensively freezing flagged wallets before 2024, noting terrorist organizations like Hamas shifted to USDT during that period.

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