Tether CEO Says Wallet Freezes Slashed Iran-Linked Stablecoin Activity by 94%
Photo: TheCoinrise
Paolo Ardoino defends the company's compliance record as it pushes back against Senate criticism over sanctions enforcement. Tether CEO Paolo Ardoino says the company has dramatically cut off stablecoin activity tied to Iran. He claims transaction volumes linked to Iranian wallets have dropped 94% since 2023. The figure is being presented as evidence of Tether's sanctions compliance efforts. Ardoino's comments arrive alongside a broader dispute with U.S. lawmakers. According to Cryptonews, he is pushing back against criticism from the Senate over how Tether's stablecoin, USDT, may be used by sanctioned actors.
Source: TheCoinrise
