Home›Crypto›Regulation›Treasury Secretary threatens to seize $1 billion in Ir…

Treasury Secretary threatens to seize $1 billion in Iran crypto this week

Scott Bessent said the U.S. knows where the assets are and expects to isolate them as sanctions continue to pressure Iran.

Reported · Written up by our desk · Regulation

Bitcoin Magazine reports U.S. Treasury Secretary Scott Bessent said American authorities will seize $1 billion in cryptocurrency from Iran this week, though it is not yet clear which specific asset the U.S. plans to take.

Bessent made the comments on Newsmax’s NPolicy Summit in Washington, D.C., saying economic sanctions on Iran are working and that Iran has used bitcoin and other cryptocurrencies to help skirt U.S. sanctions.

He added that the U.S. has been targeting crypto wallets linked to the Iranian regime, and he referenced prior action that began in April.

Bitcoin Magazine also notes Bessent said the U.S. would isolate the crypto assets, stating, “We know where it is,” and described the efforts as unprecedented.

Latest closeBitcoin $81,723.06 ▼2.3%

More like this

Sources