US Targets Another $1 Billion in Iran-Linked Crypto
US Treasury Secretary Scott Bessent says the Trump administration could seize around $1 billion in cryptocurrency linked to Iran this week.
“We know where it is and we are isolating them,” Bessent said, describing Washington’s expanding campaign to cut off Iran’s access to global financial networks.
The pressure extends beyond crypto. The US is also targeting Iran-linked oil shipments, shipping networks, and entities accused of helping the country evade sanctions.
In September, the Treasury sanctioned Iranian crypto exchange BitBank over alleged Bitcoin transfers to the Islamic Revolutionary Guard Corps.
But there is an important detail: Bessent previously said the US had seized approximately $1 billion in Iranian crypto in May. It remains unclear whether the latest target represents additional assets.
For the crypto market, this is another reminder that regulatory enforcement can reach beyond exchanges to wallets and financial networks linked to sanctioned entities.
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US Treasury Secretary Scott Bessent says the Trump administration could seize around $1 billion in cryptocurrency linked to Iran this week.
“We know where it is and we are isolating them,” Bessent said, describing Washington’s expanding campaign to cut off Iran’s access to global financial networks.
The pressure extends beyond crypto. The US is also targeting Iran-linked oil shipments, shipping networks, and entities accused of helping the country evade sanctions.
In September, the Treasury sanctioned Iranian crypto exchange BitBank over alleged Bitcoin transfers to the Islamic Revolutionary Guard Corps.
But there is an important detail: Bessent previously said the US had seized approximately $1 billion in Iranian crypto in May. It remains unclear whether the latest target represents additional assets.
For the crypto market, this is another reminder that regulatory enforcement can reach beyond exchanges to wallets and financial networks linked to sanctioned entities.
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$OPN
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