Tether blocks 340 million dollars belonging to Iran’s central bank

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Last Updated on 18 May 2026 by CryptoTips.eu

At the request of US authorities, Tether, issuer of the world’s largest stablecoin, blocked approximately $340 million worth of USDT on its platform earlier this week. Apparently, it was the Central Bank of Iran that tried to move the funds, which violates international sanctions against the country.

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Hormuz

Crypto is becoming increasingly important in the ongoing tensions between the United States and Iran. After the Iranian government demanded payment in crypto for ships wishing to pass through the Strait of Hormuz, the United States government is now launching a countermeasure also involving digital currencies. By blocking hundreds of millions of dollars in USDT, still the world’s largest stablecoin, President Trump’s administration is once again pressuring the Iranian regime.

Tether is seeking legitimacy in the United States to eventually launch an American IPO (just as Circle did very successfully last year).

The company was formerly reviled as the stablecoin of choice for criminals, but it has worked on its reputation in recent years.

However, due to news from Venezuela earlier this year (the government of former President Nicola Maduro apparently accepted payment for its oil exports in Tether) and news from Iran (the central bank attempted to circumvent international sanctions by purchasing Tether), the stablecoin issuer is increasingly appearing in the news for all the wrong reasons again.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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