U.S. Senate Report Links USDT to Iranian Shadow Banking

A report from the U.S. Senate Permanent Subcommittee on Investigations claims Tether’s USDT has become a primary payment mechanism for Iranian networks to bypass international sanctions. Analyzing 846 sanctioned wallets, investigators found 84% transacted almost exclusively in USDT. The report criticized Tether for past delays in freezing illicit wallets and urged the Treasury and Justice departments to investigate the company's anti-money-laundering controls.