ImportantTether CEO Responds to US Senator Report: Iran-Related Stablecoin Transaction Volume Drops 94%

Tether CEO Paolo Ardoino posted on the X platform that the "analysis" of Tether sanctions reports by US Senator Richard Blumenthal omits a key point: since 2023, Tether has on average frozen relevant addresses 4 weeks in advance of formal sanctions designations by the US Department of the Treasury's Office of Foreign Assets Control (OFAC) and Israel's National Bureau for Counter Terror Financing (NBCTF), and has completed the freezing process prior to Chainalysis flagging the relevant addresses in 99% of cases. He stated that Tether's actions have resulted in a 94% reduction in Iran-related stablecoin transaction volume.

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