USDT Identified as Key Financial Tool in Iran’s Shadow Banking
- A report from the U.S. Senate Permanent Subcommittee on Investigations reviewed transactions from 846 crypto wallets linked to Iran, revealing that 84% transacted mainly in USDT.
- Investigators found nearly $50 million in USDT transferred to Iranian exchanges from wallets associated with the Central Bank of Iran.
- The report highlighted that two sanctioned intermediaries moved $603 million in USDT between 2021 and 2025, connecting it to Iranian oil sales and regional groups like Hezbollah.
- Tether froze approximately $131 million in USDT linked to Iran earlier this year, amid increasing scrutiny by U.S. authorities.
- Senator Richard Blumenthal has called for investigations into Tether for potential violations of banking and sanctions laws.
The findings indicate that USDT has become a significant financial backbone for Iran’s shadow banking network, raising concerns about its use in circumventing sanctions and funding illicit activities.
With hundreds of millions of dollars identified flowing through these channels, the implications for regulatory oversight are significant as authorities continue to monitor cryptocurrency’s role in global finance. (Source)
