Tether responds to allegations of facilitating Iranian financial activities
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On October 20, 2026, CoinDesk reported that Paolo Ardoino, CEO of stablecoin issuer Tether, defended the company over allegations that it had facilitated Iranian financial activities, rebutted related allegations in a Senate investigation, and said the investigation overlooked Tether’s efforts to reduce the volume of Iran-related transactions. Earlier reports did not disclose the specific content of the investigation, the scale of the transactions involved, or the investigators’ response. Later that day, Cryptopolitan reported that Ardoino denied allegations by a U.S. Senate Democratic investigation concerning Tether’s compliance with sanctions on Iran, and said the company froze the relevant addresses an average of four weeks before sanctions were formally announced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and Israel’s counterterrorism financing agency.
AI-written from reports · updated 1 hour ago
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- CryptopolitanSelectedTether CEO Ardoino rejects Senate report’s questions over the timing of Iran sanctions compliance
Tether CEO Paolo Ardoino denied allegations about the company’s Iran compliance raised by a Democratic investigation in the U.S. Senate, saying Tether froze the relevant addresses an average of 4 weeks before OFAC and Israeli counter-terrorist financing authorities formally announced the sanctions.
- CoinDeskTether says senator’s investigation overlooks its positive work in driving down Iran-related transaction volume
Tether CEO Paolo Ardoino defended the company, rejecting allegations that its stablecoin facilitated financial activity in Iran. He said the senator’s investigation overlooked the company’s positive work in driving down Iran-related transaction volume.
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