A Senate Permanent Subcommittee on Investigations report led by Sen. Richard Blumenthal alleges Iran relies on Tether's USDT stablecoin as a key part of a 'shadow banking network' to bypass sanctions and finance terrorist proxies and military equipment purchases. The subcommittee examined 846 sanctioned crypto wallets tied to Iran and regional proxies, finding 84 percent used USDT almost exclusively, and it accuses Tether of inconsistently freezing flagged wallets before 2024. Tether responded that it has frozen nearly $550 million in USDT linked to Iran this year and denies USDT is a haven for sanctioned or criminal actors.
engadget.com
· 2026-09-29
Donald Trump and Xi Jinping are set to hold their second in-person summit of the year in Washington, aiming to shore up a fragile trade truce reached in Busan. Treasury Secretary Scott Bessent acknowledged that some Chinese commitments from that earlier deal remain unfulfilled, even as both sides continue trading accusations and retaliatory trade measures. The talks arrive amid rising tension over artificial intelligence policy, shifting American tariff plans, and an Iran-related sanctions campaign that could complicate any economic breakthrough.
cnbc.com
· 2026-09-21
The Justice Department alleges that Hong Kong-based firms Hexa Whale and Blessed Trust used Binance to route roughly $1.5 billion in cryptocurrency tied to black-market Iranian oil sales to Chinese buyers, with proceeds ultimately reaching Iran's Islamic Revolutionary Guard Corps. Prosecutors filed a forfeiture complaint seeking to seize $61 million connected to the scheme, and some funds reportedly passed through the US financial system to obscure their origin. Binance confirmed the companies' involvement, removed them from its platform, and dismissed several internal investigators who flagged the transactions.
engadget.com
· 2026-09-15
Huawei is scheduled to face a US criminal trial on charges that it violated Iran sanctions and stole trade secrets from competitors. The proceedings are set to begin just weeks before a planned meeting between President Trump and Chinese leader Xi Jinping.
wsj.com
· 2026-09-09
Reports indicate that American financial institutions have inadvertently processed transactions linked to Iran, undermining Washington's broader sanctions campaign meant to isolate Tehran economically. Compliance gaps within domestic banks are said to allow funds to slip through despite tightened international restrictions.
wsj.com
· 2026-09-06
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