US Senate Report Links Tether to Iranian Shadow Banking; Tether Responds with $550 Million Asset Freeze

A US Senate report alleges that USDT has become a financial lifeline for Iran to evade international sanctions, claiming a shadow banking network processed $20 billion in transactions. The report criticizes Tether for systemic compliance failures and slow response times. Tether countered these claims, stating it has already frozen nearly $550 million in assets linked to illicit activities and maintains 24/7 cooperation with US law enforcement agencies.