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Crypto

U.S. Senate report says 84 percent of Iran-linked sanctioned wallets mainly used Tether\'s USDT

Democrats on a U.S. Senate investigations subcommittee said many crypto wallets designated for sanctions or seizure tied to Iran and affiliated forces used Tether’s stablecoin USDT. The panel analysed 846 wallets and found 84 percent used USDT exclusively or mainly. The report also cited large transaction volumes and alleged links to groups and networks. Tether said it works with U.S. authorities and has frozen assets tied to Iran-linked wallets.

Crypto

U.S. seeks forfeiture of $61 million in crypto tied to alleged Iran oil payment laundering via Binance accounts

U.S. federal prosecutors are seeking civil forfeiture of about $61 million in cryptocurrency they say is linked to proceeds from Iran’s black-market sales of sanctioned crude oil and petroleum products. Prosecutors filed a civil complaint and alleged the funds could have been used by Iran’s government, military and the Islamic Revolutionary Guard Corps. The complaint names two China-linked firms and identifies an interconnected wallet network that allegedly moved more than $1.5 billion.

Crypto

U.S. Treasury OFAC sanctions two Iran-linked cryptocurrency exchanges

The U.S. Treasury Department\'s Office of Foreign Assets Control imposed sanctions on two Iran-linked cryptocurrency exchanges and one individual. The U.S. government judged they helped launder $5 million in digital assets connected to Iran. The sanctioned entities are Selbit, Avan Tether and Iranian national Siavash Kaivanpour. OFAC said the exchanges supported illicit cryptocurrency activity and sanctions evasion, with proceeds used to support Iran\'s Islamic Revolutionary Guard Corps.