US Tightens Crackdown on Iran’s Use of Digital Assets

The US government is stepping up efforts to curb Iran’s use of digital assets, Fox Business reported, as Washington expands sanctions enforcement into the cryptocurrency market.

Fox Business reported on May 21 that the US is intensifying efforts to police Iran’s use of cryptocurrencies.

Washington is seeking to block alternative financial channels that Iran has used to evade sanctions, the report said.

Treasury Secretary Scott Bessent previously said the US had frozen about $500 million in cryptocurrency linked to the Iranian regime.

Fox Business also reported that Iran is estimated to hold about $7.7 billion in digital assets.

The US has recently expanded its monitoring beyond Iranian oil trade and the country’s shadow fleet to include cryptocurrency-based fund transfers.

Market participants are watching how tighter US sanctions on Iran’s digital-asset activity could shape the global debate over cryptocurrency regulation, privacy and money laundering.