Tether’s USDT at center of Iran’s shadow banking network, new Senate Report says

60-second summary

Tether’s USDT sits at the core of Iran’s shadow banking network, a Senate report reveals, showing the stablecoin facilitates cross‑border transfers and circumvents sanctions. The investigation notes dozens of Iranian entities use USDT for illicit financing, prompting regulators to scrutinize stablecoin compliance. This exposure could pressure exchanges to tighten AML controls, affecting USDT liquidity and market confidence.