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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

Binance back in spotlight over suspected Iran sanctions breaches as U.S. prosecutors probe

Binance is under investigation by U.S. federal prosecutors over possible violations of sanctions against Iran. The probe is led by the Manhattan U.S. attorney’s office, with the Justice Department’s criminal division also reviewing the matter. Authorities are examining whether Binance overlooked certain transactions and are reviewing the company’s compliance system. The scrutiny follows a 2023 settlement in which Binance admitted violations and paid about $4.3 billion in penalties.

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.