Treasury Secretary reveals confiscation of $1 billion in digital assets linked to Iran’s military amid ongoing geopolitical tensions.
The U.S. has seized approximately $1 billion in cryptocurrencies tied to Iran, according to Treasury Secretary Scott Bessent. The assets were reportedly held by entities linked to Iran’s Islamic Revolutionary Guard Corps, which has increasingly used digital currencies like Bitcoin and Tether’s USDT for transactions.
Bessent stated that some wallet holders may not yet realize their funds have been confiscated. The move aligns with broader U.S. efforts to disrupt Iran’s financial networks, particularly as tensions persist in the Strait of Hormuz, a critical oil transit route.
The seizure comes as negotiations between the U.S. and Iran near a potential deal to ease economic pressures. The conflict has strained global oil markets, with 20% of the world’s oil passing through the contested waterway.