Bessent Says US Has Seized $1 Billion in Iran-Linked Crypto

US Treasury Secretary Scott Bessent said US authorities have seized about $1 billion in Iran-linked cryptocurrency so far, a disclosure that comes as Washington steps up enforcement of sanctions on Tehran.

Unfolded reported on May 29 that Bessent said, "To date, the United States has seized approximately $1 billion worth of Iranian digital assets."

The assets were identified during investigations into activity related to evasion of US sanctions on Iran, he said. Bessent did not provide details on when the seizures took place or what types of assets were involved.

The Treasury Department has continued cracking down on wallet addresses linked to Iran's Islamic Revolutionary Guard Corps, or IRGC, cryptocurrency transaction networks and fund flows tied to sanctions evasion. Financial pressure has also intensified as US-Iran tensions continue over the Strait of Hormuz and nuclear negotiations.

In the market, the tougher US sanctions enforcement is being interpreted as a sign of broader scrutiny of cross-border fund transfers using cryptocurrency and sanctions-evasion networks.