WashingtonTether has become Iran’s go-to sanctions workaround, Senate Democrats say.
A private company’s token now moves money the correspondent-bank sanctions system was built to block.
The Senate subcommittee says Tether has repeatedly failed to freeze sanctioned wallets, sometimes taking weeks or not blocking them at all.
The report is from the subcommittee’s Democratic minority, which lacks the votes to compel Tether to change its practices.
How each outlet framed it
- CoinDesk leans critical
- reports Tether repeatedly fails to block Iran sanctions-evasion wallets; freezes delayed, Hamas shifted to USDT from Bitcoin
Sources: CoinDesk