Last month, Cantor Fitzgerald was questioned by a Senate Democrat regarding its connections to Tether amid concerns over the stablecoin USDT's involvement in Iran's shadow banking system. This inquiry follows allegations that Tether's USDT has become a significant tool for circumventing financial restrictions in Iran.
According to CoinTelegraph, Democratic investigators have highlighted the role of USDT in facilitating transactions within Iran's informal financial networks, raising regulatory and compliance questions for firms linked to Tether.
For Japanese investors, this development underscores the increasing scrutiny stablecoins face globally, which could influence regulatory approaches and market dynamics in Japan's evolving crypto ecosystem.