Tether Pushes Back on Senate Iran Scrutiny, Citing Lower Iran-Linked Volumes

Tether CEO Paolo Ardoino said on October 19 that the company’s actions had cut Iran-linked stablecoin volumes by 94%, pushing back against a U.S. Senate investigation that found USDT was overwhelmingly used by a set of wallets sanctioned or targeted for seizure over Iranian links. Ardoino also said Tether froze relevant addresses an average of four weeks before formal designations by the Treasury Department’s Office of Foreign Assets Control and Israel’s National Bureau for Counter Terror Financing, and before Chainalysis applied labels in 99% of cases.

Also reported by Cryptonews.

Source: Crypto Daily