Of over 800 crypto wallets sanctioned for their links to Iran, 84% operated almost exclusively in USDT, Tether’s stablecoin. The issuer froze approximately $550 million in USDT linked to Iran’s central bank and sanctioned networks in 2026, in two batches in April and July. Iran’s central bank allegedly accumulated at least $507 million in USDT to operate an economy under banking restrictions. The GENIUS Act, passed in 2025, now requires stablecoin issuers active in the United States to be able to freeze tokens on request from authorities.
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