Senate Subcommittee Refers Tether Report to Treasury and DOJ

USDT

This is part of a global regulatory crackdown on stablecoins, following the EU's MiCA and US stablecoin bills. It underscores the systemic risk of unregulated offshore stablecoins and may accelerate the shift towards regulated alternatives like USDC, potentially reshaping the $160B stablecoin market and its role in crypto liquidity.

Tether

A report led by Senator Blumenthal alleges that Tether's USDT is central to Iran's shadow banking system and that 87% of 757 terrorism-related wallets predominantly transacted in USDT.