Senator urges immediate Tether probe over alleged Iran sanctions violations

U.S. Sen. Richard Blumenthal, the top Democrat on the Senate Permanent Subcommittee on Investigations, urged an immediate investigation into Tether and accountability for potential sanctions violations involving Iran after 84% of crypto wallets tied to Iran and sanctioned by the U.S. and Israel were found to have handled all or nearly all transactions in Tether’s USDT. Blumenthal said Tether and USDT had become central to Iran’s shadow financial system and argued the Trump administration’s apparent failure to properly oversee crypto issuers had undermined U.S. national security interests. For that reason, Blumenthal said the Treasury Department and Justice Department should immediately investigate Tether and pursue accountability over potential Iran-related sanctions violations.