[Tether Accused by U.S. Senate Democrats of Being Iran Regime's 'Financial Lifeline'] BlockBeats News, September 29 – On September 28, Democratic members of the U.S. Senate Homeland Security and Governmental Affairs Committee's Permanent Subcommittee on Investigations released a report accusing Tether's stablecoin USDT of becoming a key funding channel for Iran's shadow banking network, aiding the Iranian government in evading international sanctions. The report states that the transaction volume processed through the related network by the Iranian government last year is estimated to have reached $20 billion, though it did not disclose the specific amount involving USDT. The report also criticized Tether for failing to promptly freeze wallets linked to Iran, with some freezing actions taking weeks, and for not proactively blocking certain wallets suspected of illegal activities. The report claims that USDT has become a critical financial lifeline for Iran's shadow banking network. In response, Tether stated on the same day that it has assisted in freezing nearly $550 million worth of USDT linked to Iran and emphasized that it has consistently maintained direct cooperation with law enforcement agencies in the U.S. and other countries to help identify and freeze illicit funds. [Original Link]