News · Stablecoins & Payments
CEO Paolo Ardoino said the firm freezes addresses weeks ahead of official OFAC designations, driving down Iran-linked stablecoin volumes by 94%.
Key point 1 of 3
01
Tether CEO Paolo Ardoino stated Tether froze suspect addresses four weeks before OFAC and NBCTF sanctions designations on average since 2023.
Key point 2 of 3
02
Ardoino claimed Tether's compliance actions reduced Iran-linked stablecoin transaction volume by 94%.
Key point 3 of 3
03
The pushback follows a Senate subcommittee report led by Sen. Richard Blumenthal accusing Tether of aiding Iran's shadow banking system.
Context
The Senate Permanent Subcommittee on Investigations released a report examining Tether's historical record on illicit finance, alleging that insufficient wallet freezes prior to…
Why it matters
Tether faces heightened political pressure in Washington over its compliance practices, even as it integrates closer to the U.S.
What to watch
Follow any formal follow-up inquiries or hearings led by Sen. Blumenthal, alongside actions from the U.S.
Sources
Built from 1 primary source, machine-checked before publication.
Keep reading
Read the full story
AI-generated, source-verified. Sources, citations and live prices on the article page.