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US dollar-pegged stablecoins, led by Tether’s USDT, have regained attention in early 2026 as Venezuela and Iran face renewed economic stress. In both countries, citizens use USDT to protect savings and make daily payments. At the same time, investigators and compliance firms say sanctioned networks also use stablecoins to move value across borders.
Moreover, recent reports have highlighted this dual use and noted a major enforcement action on Tron-based USDT. On Jan. 11, 2026, on-chain trackers reported that Tether froze more than $182 million in USDT across five Tron wallets. The move has renewed debate over stablecoin oversight and sanctions compliance.
Unlike decentralized tokens, USDT gives its issuer direct control over address access. Tether can freeze USDT on supported networks, which blocks transfers and redemptions for blacklisted wallets. That design allows enforcement actions without removing tokens from the blockchain.
On Jan. 11, 2026, Whale Alert and other trackers reported freezes totaling more than $182 million on Tron. The five wallets reportedly held between about $12 million and $50 million each. Tether has not published the reason for the action. Observers have speculated about links to Venezuela, but no confirmation has followed.
Earlier figures also point to broader enforcement. An AMLBot report dated Dec. 5 said Tether blacklisted about $3.3 billion from 2023 through late 2025. It said Tron-based USDT made up $1.75 billion of that total. Together, the data points show how USDT can support crisis economies while also attracting sanctions-related scrutiny.
Meanwhile, Iran has experienced protests over worsening economic conditions, according to recent coverage. Reports also said authorities restricted domestic internet access during the unrest. These disruptions have added pressure to an economy already strained by sanctions and inflation.
In that setting, many residents have turned to stablecoins as a hedge. TRON-based USDT has ranked among the most used crypto assets in the country, according to data. Users often treat the token as a digital proxy for US dollars. They use it to preserve value and manage payment risk.
However, adoption has faced obstacles. Reports said a hack at the country’s largest exchange hurt confidence in 2025. They also cited “significant” USDT blacklistings that limited access for some users. In addition, coverage said Iran introduced limits in late September. Those limits reportedly set maximum holdings of $10,000 and maximum purchases of $5,000 per person.
A separate compliance angle has also emerged. TRM Labs reported that Iran’s IRGC allegedly moved more than $1 billion in stablecoins since 2023. The report named two “UK-based front companies,” Zedcex and Zedxion, and described them as linked infrastructure. It also cited Babak Zanjani as a central figure in the alleged network.
Also Read: Tether Partners UNODC After $260 Million Crypto Crime Seizure in Africa
Venezuela’s long-running currency decline has pushed consumers toward dollar-linked alternatives. Reports have described USDT use in everyday commerce, including small services and routine household payments. Many people prefer wallets over bank accounts, according to that coverage.
A Wall Street Journal report quoted Venezuelan entrepreneur Mauricio Di Bartolomeo, who described stablecoins as common in basic transactions. The report also said people keep choosing USDT even without regulated local venues. That behavior reflects low trust in banks and the need for a stable unit of account.
The same report linked USDT to the state oil sector. It said PDVSA has sought payments in USDT to reduce sanctions friction tied to restrictions imposed in 2020. The report estimated that stablecoins account for about 80% of PDVSA oil revenue. It also said PDVSA uses USDT to settle incoming and outgoing payments.
This creates a split outcome. Citizens use stablecoins to cope with inflation and instability. At the same time, state-linked entities can use the same rails to reduce visibility in cross-border trade.
