Iran’s central bank appears to have moved at least $507 million of cryptocurrency issued by Tether, a stablecoin supported by UK politician Nigel Farage. Crypto analytics firm Elliptic reported tracing Tether transactions through accounts linked to Iran’s central bank, which suggests a strategy to evade global banking restrictions. Tether is a stablecoin pegged to the US dollar, making it easy to exchange for real currency. This use may help Iran trade internationally or stabilize its own currency, the rial. Nigel Farage praised Tether as a key crypto stablecoin and planned to discuss it in talks with the Bank of England's governor. He called for the UK to embrace stablecoins and crypto under clear regulation, criticizing restrictions imposed by Andrew Bailey. One major Tether shareholder, Christopher Harborne, who also donates to Farage's Reform UK, denied any link to illegal activity related to Tether's use by Iran. A spokesperson for Reform UK said lots of global users rely on Tether and confirmed compliance with laws. Demand for Tether has soared, generating large profits thanks to its reserves pegged to the dollar. However, sanctions from the US and UN have pushed Iran towards using Tether to overcome banking limits. Last year, Israel exposed crypto accounts linked to Iran’s Revolutionary Guards. An Iranian businessman accidentally revealed crypto accounts allegedly used by Iran's central bank. Elliptic used this to confirm connections to 50 accounts controlled by the bank. Tether said it enforces a zero-tolerance policy on criminal use and follows US sanctions. The company works with law enforcement globally, freezing over $3.4 billion linked to criminal activity. While Tether froze accounts connected to Iran’s Revolutionary Guards, most accounts tied to the central bank still appear active. This report raises fresh questions about crypto’s role in bypassing sanctions and Farage’s advocacy for such currencies.