US senators raise the issue of using Russian USDT to circumvent sanctions
Date: 2024-04-30 Author: Oliver Abernathy Categories: IN WORLD
In a letter sent to the Biden administration, Senators Elizabeth Warren and Roger Marshall expressed concern about the possible use of Tether's USDT stablecoin by Russia, Iran and North Korea to circumvent sanctions.
Suspected use of USDT
According to The Wall Street Journal, senators expressed concern about the possible use of the Tether stablecoin by the Russian Federation and other countries to circumvent international sanctions. They pay attention to regular transactions in cryptocurrency, possibly aimed at circumventing sanctions.
In light of these allegations, the Ministry of Finance, the Ministry of Defense and other departments received a request from senators about the possibility of expanding powers to combat the use of cryptocurrencies to circumvent sanctions.
Tether's reaction and position
Tether officials have stressed their willingness to cooperate with US authorities and block wallets used to circumvent sanctions. Additionally, 161 wallets were frozen in December 2023 as part of new security regulations.
The raised issue of the use of cryptocurrencies to circumvent sanctions highlights the need to tighten control and regulation in the field of cryptocurrency transactions in order to ensure the effectiveness of international sanctions and the security of financial systems.
