A report from Senate Democrats is expected to detail how cryptocurrency may have helped move funds beyond the reach of American authorities.
• The report, scheduled for release Monday, focuses on digital tokens issued by one of the cryptocurrency industry’s most profitable companies.
• Investigators say entities linked to Iran relied on these dollar-pegged assets to facilitate transactions despite U.S. restrictions.
• The findings could intensify scrutiny of stablecoins, which are designed to maintain a steady value but can move across borders quickly and with limited transparency.
• The report is also likely to renew questions about whether crypto companies are doing enough to prevent sanctioned governments and organizations from accessing their platforms.
• U.S. lawmakers have increasingly examined the role of digital currencies in sanctions evasion, illicit finance and international payments.
The allegations underscore the growing challenge facing regulators as governments adapt financial sanctions to an increasingly digital global economy.