Tether says it froze $550M in Iran-linked USDT this year, citing law enforcement cooperation

After the U.S. Senate Permanent Subcommittee on Investigations said 84% of crypto wallets tied to Iran and sanctioned by the U.S. and Israel processed all or nearly all transactions in Tether, Tether pushed back, saying it froze about $550 million worth of Iran-linked USDT in 2026. Tether said it has worked with U.S. and international law enforcement authorities to comply with relevant regulations and also cooperated with the economic sanctions Treasury Secretary Scott Bessent recently imposed on Iran. Tether added it has consistently shown USDT is not a safe haven for sanctioned actors, terrorist groups, or criminal networks, and stressed that U.S. authorities including the Department of Justice, the FBI, the Secret Service, Homeland Security Investigations, and the Treasury Department's Office of Foreign Assets Control have repeatedly acknowledged its role in major law enforcement operations.