US Cracks Down on Iran’s Crypto Reserves, Freezes $344M
The US Treasury Department has frozen $344 million in cryptocurrency tied to Iran, marking a sharp escalation in economic pressure on Tehran. Treasury Secretary Scott Bessent said the agency will track any funds that Iran tries to move abroad. Crypto firm Tether cooperated with US authorities to block the assets after investigators uncovered links to illicit activity. Blockchain analytics tied the frozen wallets to Iranian exchanges and Central Bank addresses. Chainalysis reports Iran held $7.8 billion in digital assets in 2025, with the IRGC controlling roughly half of that sum. An Atlantic Council expert called the freeze meaningful but warned that Iran often shifts its tactics through third-party actors.
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