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Sen. Richard Blumenthal's subcommittee released a report finding that 84% of 846 cryptocurrency wallets sanctioned or targeted for seizure over links to Iran primarily transacted in Tether's USDT stablecoin. The report also alleges two Iranian oil smugglers moved more than $603 million in USDT through a network tied to Hizballah, the Houthis and Iranian financial institutions, and the subcommittee has referred its findings to the Treasury and Justice Department.
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