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A report released by Democratic members of the U.S. Senate Permanent Subcommittee on Investigations has raised concerns over the use of Tether’s USDT stablecoin in financial networks linked to Iran and its regional proxies. The report analysed blockchain transaction data from 846 cryptocurrency wallets that had been sanctioned or targeted for seizure because of alleged links to Iran and associated groups. It found that 84% of the wallets had transacted exclusively or almost e

Newly examined financial records from Tether's early years have raised questions about the effectiveness of customer due diligence surrounding the issuance of USDT, after several entities and individuals that purchased the stablecoin directly from the company were later connected to sanctions evasion, money laundering, drug trafficking and other financial crimes. The records provide an unusual look at Tether's primary customer base during a period in which USDT was undergoing