Tether says proactive freezes cut Iran-linked stablecoin volumes by 94%
Tether CEO Paolo Ardoino defended the company against allegations of enabling illicit finance, stating that Tether's transaction freezes led to a 94% drop in Iran-linked stablecoin volumes.
Tether CEO Paolo Ardoino said the stablecoin issuer's actions, including freezing suspicious activity, resulted in a 94% decline in Iran-linked stablecoin volumes. The statement comes as Ardoino defends the firm against accusations that its stablecoins have fueled financial activity in Iran.[1][2][4]
Posting on X, Ardoino asserted that Tether is often well ahead of official government sanctions when intercepting and freezing illicit transactions. He contended that a recent inquiry and report from Senate Democrats overlooked the positive impact of Tether's proactive compliance measures, which demonstrate how stablecoin issuers can aid global regulatory enforcement.[1][3][4]
Key facts
- Tether CEO Paolo Ardoino stated that company interventions led to a 94% decline in Iran-linked stablecoin volume.
- Ardoino pushed back against claims that Tether's stablecoins have supported financial activity in Iran.
- Ardoino claimed on X that Tether is often ahead of government sanctions when freezing suspicious transactions.
- Ardoino argued that an investigation and recent report from Senate Democrats ignored the company's positive compliance efforts.
Sources · 4 sources
- CO
CoindeskArticle ·
Tether: Senator's investigation misses positive work that's led to lower Iran volumes The stablecoin issuer's CEO, Paolo Ardoino, has been defending against accusations that the firm's stablecoins have fueled financial activity in Iran.
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🇮🇷 JUST IN: Paolo Ardoino says Tether’s actions led to a 94% decline in Iran-linked stablecoin volumes. https://t.co/3zzfsc6YEU
Open source - CO
CoinDesk@CoinDeskPost on X ·
LATEST: Tether CEO Paulo Ardoino posted on X that his company is often way ahead of government sanctions when it freezes suspicious transactions — a point he contends a recent report from Senate Democrats ignored. https://t.co/ULL64ZrKZN
Open source - CB
Crypto BriefingArticle ·
Tether says its freezes drove a 94% drop in Iran-linked stablecoin volumes Tether's proactive compliance highlights the potential for stablecoin issuers to influence global financial regulations and enforcement. The post Tether says its freezes drove a 94% drop in Iran-linked stablecoin volumes appeared first on Crypto Briefing .
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