Regime appears to have turned to digital currency issued by Tether in the face of sanctions

Iran’s central bank appears to have been using vast quantities of a cryptocurrency championed by Nigel Farage, according to a new report.

Elliptic, a crypto analytics company, said it had traced at least $507m (£377m) of cryptocurrency issued by Tether – a company touted by the Reform UK leader – passing through accounts that appear to be controlled by Iran’s central bank.