A probe from the Democratic side of the U.S. Senate said Tether’s USDT stablecoin has become a major means of payment in Iran, according to ChainCatcher. The investigation found that among more than 800 sanctioned crypto wallets, about 84% primarily or exclusively used USDT. The report adds to earlier findings from the U.S. Senate Permanent Subcommittee on Investigations, which said its review of blockchain records, sanctions lists, and asset seizure notices showed that sanctioned wallets were mainly located on the Tron and Ethereum networks and had conducted USDT transactions. The findings place renewed attention on the use of dollar-pegged stablecoins in sanctioned crypto activity.
According to ChainCatcher, a probe from the Democratic side of the U.S. Senate said Tether-issued stablecoin USDT has become a major means of payment in Iran.
The investigation found that among more than 800 sanctioned crypto wallets, about 84% primarily or exclusively used USDT.
The U.S. Senate Permanent Subcommittee on Investigations had also said earlier that its review of blockchain records, sanctions lists, and asset seizure notices found that sanctioned wallets were mainly on the Tron and Ethereum networks and had carried out USDT transactions.
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