Summary
- The US Treasury secretary said authorities seized $500 million in cryptocurrency assets during an economic pressure campaign targeting Iran.
- He said the move was part of President Donald Trump’s 'Operation Economic Fury,' which aims to cut off Iran’s funding through asset seizures, bank account freezes and secondary sanctions.
- The Financial Times reported that Iran is reviewing a plan to collect transit fees from ships passing through the Strait of Hormuz in Bitcoin (BTC), while fraudsters have also demanded payment in Bitcoin and Tether (USDT).
The US has seized $500 million in Iran-linked cryptocurrency assets, Cointelegraph reported.
US Treasury Secretary Scott Bessent told Fox Business on April 29 that the seizure was part of Washington’s economic pressure campaign against Iran. Cointelegraph said the move was part of “Operation Economic Fury,” which President Donald Trump ordered in March 2025. The campaign is aimed at cutting off Iran’s funding through asset seizures, bank account freezes and secondary sanctions on countries that buy Iranian oil.
“We are freezing bank accounts all over the world,” Bessent said. More importantly, he added, the campaign is making people reluctant to do business with the Iranian regime. Sanctions also cover pension assets held by Iranian officials and real estate they own overseas.
US pressure is spreading across Iran’s broader economy. Bessent said one of Iran’s major banks went bankrupt in December 2025, and the Iranian currency has lost 60% to 70% of its value against the dollar. “Iran is now facing a currency crisis,” he said.
The Financial Times reported earlier in April that Iran is reviewing a plan to collect transit fees in Bitcoin from vessels passing through the Strait of Hormuz. Maritime risk firm Marisks also warned that fraudsters posing as Iranian security authorities had approached shipowners stranded in the strait and demanded payment in Bitcoin or Tether.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
