US seizes $1 billion in crypto assets from Iran

U.S. Treasury Secretary Scott Bessent told the Reagan National Economic Forum that the United States has confiscated roughly $1 billion in cryptocurrency belonging to the Iranian regime. He said the seizure was part of a coordinated offensive that combined military strikes, financial sanctions and the takedown of digital‑asset holdings. Bessent explained that the assets were likely stablecoins such as USDT or USDC held on centralized exchanges, allowing the Treasury to freeze the wallets: “I believe we seized about $1 billion in their cryptocurrencies.”

Earlier in the year, a report by blockchain analytics firm Elliptic revealed that Iran’s central bank had amassed more than $500 million in USDT to circumvent Western sanctions. At the same time, Iran has been experimenting with crypto‑based revenue streams, launching a maritime toll in the Strait of Hormuz that charges $1 per barrel of oil and a website that accepts Bitcoin for digital cargo insurance. The United States is also working with European allies to seize physical property linked to Iran’s Revolutionary Guard leaders.