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US plans to seize $1bn in crypto tied to Iran, Bessent says

Treasury Secretary Scott Bessent said the US expects to seize about $1bn in cryptocurrency this week as part of sanctions pressure on Iran.

InvestIn.News NewsDesk · 1 min read
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Picture from Cointelegraph for: US plans to seize $1bn in crypto tied to Iran, Bessent says
Image: Cointelegraph
Original reporting: Turner Wright, Cointelegraph

Key points

  • Bessent said the US was "probably gonna seize a billion dollars of crypto this week" at the Newsmax Policy Summit on Thursday
  • OFAC announced in August it was targeting crypto exchanges facilitating funds to Iran's Islamic Revolutionary Guard Corps
  • Tether reported freezing $550m of USDt in 2026 under US sanctions on Iran, including $344m in April

The US plans to seize about $1bn in crypto tied to Iran, Treasury Secretary Scott Bessent said, according to Cointelegraph.

Bessent said the authorities knew where the assets were and were isolating them, describing the step as part of a strategy to cut Iran off economically. He did not say whether the crypto was held at particular exchanges or had been blocked through action by stablecoin issuers.

Bessent said then that the US intended to increase economic pressure on Iran, focusing on financial networks funding its government "in dollars, rials, or crypto".

Read the full story on Cointelegraph

Live updates on NewsFeeds:RegulationDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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