Senate report claims Iran is using Tether's stablecoin to evade sanctions

Kris Holt· Sep 29, 2026 · 3:29 PM UTC ·2 min read · 0 reactions · 0 comments · 7 views

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News Senate report claims Iran is using Tether's stablecoin to evade sanctions The company says it helped freeze $550 million in USDT linked to the country so far this year. Richard Blumenthal, the ranking member of the Senate Permanent Subcommittee on Investigations (PSI), led the report. The subcommittee looked at 846 sanctioned cryptocurrency wallets that have been linked to Iran and regional proxies.

Key facts

▪News Senate report claims Iran is using Tether's stablecoin to evade sanctions The company says it helped freeze $550 million in USDT linked to the country so far this year.
▪Richard Blumenthal, the ranking member of the Senate Permanent Subcommittee on Investigations (PSI), led the report.
▪The subcommittee looked at 846 sanctioned cryptocurrency wallets that have been linked to Iran and regional proxies.

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Original publisher	Engadget
Canonical URL	https://www.engadget.com/2272053/senate-report-claims-iran-is-using-tethers-stablecoin-to-evade-sanctions/
Publication time	Tue, 29 Sep 2026 15:29:32 +0000
Retrieval time	2026-09-29T15:37:02.747Z
Last seen	2026-09-29T15:37:02.747Z
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Opening excerpt (first ~120 words) tap to expand

News Senate report claims Iran is using Tether's stablecoin to evade sanctions The company says it helped freeze $550 million in USDT linked to the country so far this year. By Kris Holt Sept. 29, 2026 11:29 am EST Vladimir Vladimirov/Getty Images Add Engadget on Google: Preferred Source Google Discover A Senate report claims Iran is benefiting from Tether's USDT stablecoin to the point where it's become a "significant financial lifeline" within the country's "shadow banking network." It says Iran is using Tether as an international payment system to get around sanctions on its banks as well as a means to fund terrorist proxy organizations. Sen. Richard Blumenthal, the ranking member of the Senate Permanent Subcommittee on Investigations (PSI), led the report.

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