The Central Bank of Iran (CBI) acquired at least $507 million in the US dollar-backed stablecoin USDT and used it to bypass global sanctions, according to a new investigation by blockchain analytics firm Elliptic. The report provides a detailed, real-world case study of how a sanctioned state is using digital assets to create a “shadow financial layer” outside the traditional banking system. For brokers and financial institutions, the findings underscore the compliance risks — as well as the enforcement mechanisms — associated with stablecoins. According to Elliptic, which mapped the CBI’s wallet infrastructure using ... (full story)