US Plans to Seize $1 Billion in Crypto Linked to Iran This Week: Scott Bessent
U.S. Treasury Secretary Scott Bessent announced that the United States is likely to seize around $1 billion in cryptocurrency linked to Iran this week. This action is part of intensified sanctions targeting Iran amid the recent military conflict beginning in February. While details about specific exchanges or stablecoin issuers involved were not disclosed, the focus lies on isolating digital assets that finance the Iranian regime.
Statements from the U.S. Treasury Secretary
During the Newsmax NPolicy Summit on Thursday, Scott Bessent revealed that U.S. authorities plan to seize approximately $1 billion in cryptocurrency linked to Iran this week. This is part of sanction efforts in response to the ongoing military conflict in the region.
Bessent did not detail whether the assets are held on specific cryptocurrency exchanges or frozen by stablecoin issuers, but assured that the government knows where these digital assets are and is actively isolating them.
Sanctions Context and OFAC Actions
In August, the Office of Foreign Assets Control (OFAC) at the U.S. Treasury announced actions targeting crypto exchanges facilitating transfers to Iran’s Islamic Revolutionary Guard Corps (IRGC).
At that time, Bessent emphasized plans to increase economic pressure on Iran, focusing on financial networks that fund the regime in dollars, rials, or cryptocurrencies.
Previous Seizures and the Role of Stablecoins
In an April interview, Bessent stated that authorities had already seized about $500 million in crypto assets tied to Iran.
Additionally, stablecoin issuer Tether reported in September that it froze $550 million worth of USDt (USDT) in the year 2026 as part of U.S. sanctions enforcement, including $344 million frozen in April alone. These measures aim to block Iran’s financial resources bypassing traditional banking.
Why it matters
The announcement of an impending seizure of approximately $1 billion in cryptocurrency highlights the U.S. efforts to enforce sanctions using modern digital asset tools. It illustrates the expanding scope of financial controls targeting resources that support the Iranian regime, extending to crypto asset freezes. Amid ongoing conflict, such sanctions, including crypto-related measures, represent a critical element of the U.S. strategy to limit Iran’s access to global financial networks and intensify economic pressure on the country.
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