A report by Senate Democrats, released on September 28, 2026, states that 84% of Iran-linked cryptocurrency wallets transacted primarily in USDT. Senate Democrats examined 846 cryptocurrency wallets, including a network of oil smugglers that moved over $603 million in USDT. Tether stated it froze approximately $550 million in Iran-affiliated USDT during 2026, including $344 million directly linked to the Central Bank of Iran in April. Senator Richard Blumenthal referred the findings to the Treasury Department and the Justice Department, with a response deadline of October 9, 2026.
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