Iran’s Sanctioned Wallets Ran on Tether, Senate Probe Finds

Sanctioned cryptocurrency wallets tied to Iran used Tether’s USDT stablecoin for almost all their transactions, according to an investigation by U.S. Senate Democrats. The findings raise concerns that the world’s largest stablecoin is being used to bypass financial restrictions. A stablecoin is a cryptocurrency designed to keep a steady value, usually pegged to the U.S. dollar.