Seizes Nearly $1 Billion in Iranian Crypto

The U.S. Treasury reports a sweeping enforcement action against Iranian crypto, revealing nearly $1 billion in Iranian digital assets seized as part of a broader crackdown. At the Reagan National Economic Forum, Treasury Secretary Scott Bessent outlined the effort, noting that wallets and other crypto holdings have been seized, with the total now approaching one billion dollars. This follows a previous April reveal of roughly $500 million in Iranian-linked crypto, including a $344 million freeze of Tether on the Tron blockchain. The program, labeled Operation Economic Fury, aims to cut Tehran’s access to capital and funding, claiming Iran previously generated $400-500 million monthly before enforcement interrupted those streams. Officials also warn that Iran is pursuing new crypto ideas, such as a Bitcoin-based marine insurance scheme for the Hormuz Strait, while enforcement continues to target crypto transactions tied to sanctioned actors.