Iran’s central bank used $500M in Tether to fight FX collapse and evade sanctions

Iran's central bank amassed $507M in USDT to dodge sanctions, using crypto tactics to access offshore liquidity. The post Iran’s central bank used $500M in Tether to fight FX collapse and evade sanctions appeared first on Crypto Briefing.

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Tether freezes $182 million in USDT stablecoin across five Tron blockchain wallets

The freezes were part of Tether's policy to comply with U.S. Treasury sanctions and were executed in a coordinated manner.

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A ruble stablecoin outpaced market leaders last year despite international sanctions

A7A5, a ruble-linked stablecoin few outside Russia had heard of a year ago grew the most of any stablecoin, outpacing both USDT and USDC over the past 12 months.

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Here’s how North Korean hackers are still getting paid in crypto despite sanctions

TRM Labs says North Korean IT workers have laundered millions in USDC and USDT while secretly working for blockchain startups. North Korea continues to rely on crypto to quietly fund its weapons programs and the U.S. government is stepping up…

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Russian crypto CEO charged in $530M laundering scheme tied to US sanctions

Evita Pay used USDT to funnel cross-border payments. Clients included Sberbank, VTB Bank, Sovcombank, and Rosatom. 22-count indictment includes money laundering, wire fraud. In a sweeping indictment that highlights growing enforcement around sanctions evasion and crypto misuse, US federal prosecutors have charged Russian national Iurii Gugnin with running a sophisticated cross-border fraud and money laundering […] The post Russian crypto CEO charged in $530M laundering scheme tied to US sanctions appeared first on CoinJournal.

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Tether Freezes $28 million USDT on Russian Exchange Garantex

Garantex says Tether froze $28 million in USDT, halting trades and intensifying US sanctions on Russia's digital trade. The post Tether Freezes $28 million USDT on Russian Exchange Garantex appeared first on BeInCrypto.

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Tether In The Hot Seat: US Federal Inquiry Into Potential Sanctions And AML Violations

Cryptocurrency company Tether is currently under federal investigation for possible sanctions and anti-money laundering (AML) violations, according to the Wall Street Journal.  The criminal inquiry, led by prosecutors from the Manhattan US Attorney’s Office, is examining whether Tether’s stablecoin USDT has been utilized by third parties to fund illicit activities, including drug trafficking, terrorism, and […]

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Tether CEO denies reports as US probes and weighs sanctions

Tether CEO Paolo Ardoino denied reports of lawmakers investigating the major cryptocurrency company over potential violations of anti-money-laundering and sanctions laws. The reported investigation, led by Manhattan prosecutors, focuses on whether Tether’s cryptocurrency (USDT) has been used to fund illegal…

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Tether and Chainalysis roll out USDT monitoring solution to counter illicit transactions

Tether partners with blockchain analytics firm Chainalysis to monitor USDT transactions and detect illicit crypto transfers that could enable sanctions evasion. The post Tether and Chainalysis roll out USDT monitoring solution to counter illicit transactions appeared first on Crypto Briefing.

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Lawmakers urge Biden administration to address ‘rogue nations’ evading sanctions via crypto

A coalition of US lawmakers penned a letter to top government officials on April 28 expressing urgent concern over the use of digital currencies like Tether (USDT) by countries such as Russia, Iran, and North Korea to bypass international sanctions.

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Venezuela Turns To Crypto For Oil Sales To Evade Fresh Round Of U.S. Sanctions

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USDT move by Venezuela’s PDVSA triggers freezing threats from Tether

Venezuela’s state-run oil company, PDVSA, has been hit with a harsh response from Tether, the issuer of the USDT stablecoin. Amidst efforts to bypass oil sanctions imposed by the United States, PDVSA reportedly turned to crypto, particularly USDT, to facilitate its crude oil and fuel exports.

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Tether commits to freezing addresses linked to sanctions as scrutiny over USDT misuse grows

Stablecoin issuer Tether told CryptoSlate that the firm would freeze any addresses linked to sanctioned entities. This decision comes in response to reports indicating that some state actors were leveraging Tether’s USDT tokens to circumvent US sanctions.

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Venezuela turns to crypto for oil trades under renewed US sanctions: Reuters

Venezuela's PDVSA shifts to crypto, using USDT for oil trades as a sanction evasion strategy, according to a new report. The post Venezuela turns to crypto for oil trades under renewed US sanctions: Reuters appeared first on Crypto Briefing.

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Venezuela reportedly turns to USDT for oil export as US sanctions bite

Venezuela’s state-run oil company PDVSA is allegedly set to increase crypto usage in its crude and fuel exports as the U.S. strengthens oil sanctions against the country. Venezuela‘s PDVSA, the world’s fifth largest oil exporter, is turning to stablecoin Tether…

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Venezuela to Use Tether (USDT) to Evade US Sanctions

Venezuela's oil firm PDVSA turns to cryptocurrency, leveraging Tether (USDT) to navigate through US sanctions and protect oil revenues, amidst growing scrutiny and operational challenges. The post Venezuela to Use Tether (USDT) to Evade US Sanctions appeared first on BeInCrypto.

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US Treasury official targets Tether USDT stablecoin in Russian sanction evasion

US Treasury Deputy Secretary Adewale Adeyemo said Russia was increasingly using alternative payment mechanisms like Tether’s USDT stablecoin to bypass economic sanctions, according to his written testimony on April 9 to the Senate Banking, Housing, and Urban Affairs Committee.

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USDT in the Shadows: Russian Smugglers Use Crypto to Evade Western Sanctions

Russian smugglers leverage cryptocurrency, particularly USDT, to bypass Western sanctions, with significant transactions linked to military hardware, sparking debates on crypto regulation. The post USDT in the Shadows: Russian Smugglers Use Crypto to Evade Western Sanctions appeared first on BeInCrypto.

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Exchanges using USDT to trade in Russia despite sanctions: Report

Huobi and KuCoin are reportedly allowing customers of sanctioned Russian banks to access their trading platforms. Binance was also allowing Russians to convert local currency to crypto without The post Exchanges using USDT to trade in Russia despite sanctions: Report appeared first on AMBCrypto.

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$46 million of USDT embargoed on FTX by Tether due to legal request

Following sanctions from legal authorities, stablecoin issuer Tether has confiscated around $46 million worth of USDT on the Tron blockchain network. The wallet address currently holding the stablecoins is suspected to be owned by the defunct cryptocurrency exchange FTX. Tether…

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Tether takes an interesting stance, USDT benefits from it

In an unprecedented move, Tether [USDT] has defied Office of Foreign Assets Control (OFAC) sanctions. The organization has decided to go against the OFAC on the grounds of the latter not indicating "tThe post Tether takes an interesting stance, USDT benefits from it appeared first on AMBCrypto.

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USDT market cap up by $2 billion following Tornado Cash debacle

Tether's market capitalization has reversed a three-month downtrend while USDC sees a drop in value after the U.S. imposed sanctions against Tornado Cash.

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Millions in Bitcoin, Ethereum, USDT pouring into Ukraine from donors

It probably won’t be long before Russians start using cryptocurrencies to mitigate sanctions upon the country as a result of the ongoing military operation in Ukraine, but NGOs and volunteer groups in Ukraine have already raised over $35 million worth of cryptos to support the country.

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