Richard Blumenthal, the top Democrat on the U.S. Senate Permanent Subcommittee on Investigations, has sent a letter to Cantor Fitzgerald CEO Brandon Lutnick seeking information about the firm’s financial relationship with stablecoin issuer Tether. The request also asks for details on the company’s banking and sanctions compliance measures tied to that relationship. In the letter, Blumenthal asked whether Cantor Fitzgerald had examined allegations that USDT was used in Iranian shadow banking, illicit financing, money laundering, and efforts to evade Russian sanctions. The letter also raises questions about the historical relationship between U.S. Commerce Secretary Howard Lutnick and Tether. The item was reported by Techub News and cited Wu Blockchain.
Richard Blumenthal, the top Democrat on the U.S. Senate Permanent Subcommittee on Investigations, has sent a letter to Cantor Fitzgerald CEO Brandon Lutnick asking the firm to disclose its financial relationship with stablecoin issuer Tether, according to Techub News.
The letter also seeks information on the banking and sanctions compliance measures connected to that relationship.
Blumenthal further asked whether Cantor Fitzgerald had investigated allegations that USDT was used in Iranian shadow banking, illicit financing, money laundering, and the evasion of Russian sanctions.
The letter also focuses on the historical relationship between U.S. Commerce Secretary Howard Lutnick and Tether.
Techub News cited Wu Blockchain in its report.
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