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US plans to seize about $1B in crypto tied to Iran this week
Treasury Secretary Scott Bessent said the action is part of US sanctions related to the conflict that began in February.
Cointelegraph reports that the US Treasury Department has announced multiple digital asset seizures connected to sanctions on Iran, with the operation expected this week.
Treasury Secretary Scott Bessent said the US is “probably gonna seize a billion dollars of crypto this week” as part of crackdowns tied to Iran’s most recent military conflict, which started in February, according to his remarks at the Newsmax Policy Summit.
Bessent said the US knows where the assets are and is isolating them, but he did not specify whether the targeted holdings involve specific exchanges or come from interventions by stablecoin issuers.
The planned seizures are described as part of US sanctions on Iran, as the Treasury moves to isolate crypto assets linked to sanctioned activity.