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Tether's Iran sanctions compliance draws US scrutiny

Original: Why Tether's Iran problem is a bank partner problem Tether freezes sanctioned wallets when law enforcement asks it to, a

Tether is under scrutiny from a congressional subcommittee over its handling of Iran-linked sanctioned wallets. The company says it freezes wallets when law enforcement asks, but critics argue that voluntary requests are the only mechanism that works, raising questions about the stablecoin issuer's compliance controls and what this means for the banks that partner with it.

Why now: A congressional subcommittee has criticised Tether's sanctions compliance, putting pressure on its banking partners.

TetherIranUS Congress subcommitteeAmerican Banker

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Evidence

• Why Tether's Iran problem is a bank partner problem Tether freezes sanctioned wallets when law enforcement asks it to, and the subcommittee's complaint is that asking is the only thing that works. https://www. americanbanker.com/news/why-te… · AlexJimenez@mas.to · 1

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