According to official documents referenced by The Wall Street Journal (WSJ), Senators Elizabeth Warren and Roger Marshall directed a series of inquiries to the Biden administration regarding the potential utilization of the USDT stablecoin by Russia, Iran, and North Korea.
As per the document, the USDT stablecoin, which is backed by the U.S. dollar, enabled Russian firms to evade sanctions and acquire components for drones and other equipment from overseas sources.
Due to this development, senators inquired whether the Department of Defense and the Joe Biden administration endorse the Treasury Department’s appeal for expanded authorities.
My knowledge cut-off date is January 2022. Hamas is designated as a terrorist organization by several countries, including the United States, the European Union, and Israel.
Tether has iterated its commitment to collaborating with U.S. authorities and expressed readiness to freeze wallets associated with entities exploiting the stablecoin to evade sanctions.
Recently, Tether officials pledged to block addresses sanctioned by the Office of Foreign Assets Control (OFAC). This announcement followed media disclosures regarding Venezuela’s state oil company utilizing the USDT stablecoin to bypass U.S. restrictions.
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