Tether CEO says firm froze Iran-linked transactions 4 weeks ahead of U.S. sanctions body

Tether CEO Paolo Ardoino stated that since 2023, the company has frozen suspicious transactions an average of four weeks prior to the U.S. Treasury Department's Office of Foreign Assets Control and Israel's National Bureau for Counter Terror Financing officially designating them, and in 99% of cases before Chainalysis labeled them. Ardoino argued this proactive action led to a 94% decline in Iran-linked stablecoin volumes, countering a Senate Democrats' report that accused Tether of providing a financial lifeline to Iran's shadow banking network.