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Democratic Senator: Iran is Using Cryptocurrency to Procure Tools of War, with Most Funds Flowing into Stablecoins

2026-05-14 15:41

Odaily News: Democratic Senator Jack Reed stated during the CLARITY Act review meeting that Iran is using cryptocurrency to procure sensitive goods, and that the drones it has purchased are wreaking havoc in the Persian Gulf. Moreover, most of these funds have been converted into stablecoins. If we truly support our military, we should cut off their (Iran's) funding sources.