Tether Freezes $131M in Iranian Crypto Assets After OFAC Sanctions

Tether Freezes $131 Million in Iranian Crypto Assets

The U.S. Treasury's OFAC expanded sanctions against the Central Bank of Iran, adding four crypto addresses. Tether subsequently froze $131 million in stablecoins held at those addresses.

FinFly NewsroomJuly 17, 202693 views1 min read

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OFAC has added four more cryptocurrency addresses belonging to the Central Bank of Iran to its sanctions list. Following this, the issuer of the Tether stablecoin froze $131 million in funds held at those addresses.

According to Chainalysis, the four sanctioned crypto wallets received a total of $165 million in stablecoins. The U.S. side believes that the Central Bank of Iran used these crypto assets to circumvent international sanctions, finance its operations, and transfer funds to regional partners.

According to the company, Tether has now frozen stablecoins totaling approximately $475 million in crypto wallets that OFAC links to the Central Bank of Iran. These funds can no longer be used.

Context

What happened before

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Earlier
OFAC expanded sanctions against Iran's central bank, adding four crypto addresses
After that
Tether froze $131 million in funds at those addresses
To date
Tether has frozen about $475 million in stablecoins linked to Iran's central bank

Tether Freezes $131 Million in Iranian Crypto Assets

The story in one minute

What happened before

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