Iranian President Masoud Pezeshkian has reportedly submitted his resignation to Supreme Leader Mojtaba Khamenei, accusing the Islamic Revolutionary Guard Corps of taking over the government.
The resignation, first reported by Iran International, has not been officially confirmed. The IRGC, led by Ahmad Vahidi, has blocked key presidential appointments and established a military council influencing national policy. Pezeshkian previously called the Guard's conduct 'madness.'
The IRGC has long used cryptocurrency to bypass sanctions. US authorities seized roughly $1 billion from Iranian-linked crypto wallets tied to the Guard. Separately, Tether froze $344 million in USDT linked to IRGC and Central Bank of Iran addresses. Iran's largest exchange, Nobitex, has also facilitated transactions for sanctioned entities.
Escalated sanctions enforcement could target more wallets and exchanges, creating short-term price pressure on stablecoins like USDT. The freeze highlights that stablecoins are not beyond the reach of enforcement.