U.S. Senator Richard Blumenthal sent a letter to Cantor Fitzgerald to investigate its links with Tether and alleged illicit uses of USDT, including the Iranian parallel banking network and sanctions circumvention against Russia. Cantor Fitzgerald manages Tether’s U.S. reserves, with the majority of assets located in the United States according to the senator, despite the company’s declared headquarters in El Salvador. Neither Cantor Fitzgerald nor Tether commented on the matter. In Europe, USDT is not among the stablecoins compliant with MiCA, with a compliance deadline set for January 8, 2027 by ESMA. Democrats currently have limited power as a minority in the Senate.
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