‘We Know Where It Is’: Treasury Secretary Threatens To Freeze $1B of Iran’s Crypto

The U.S. will seize $1 billion of Iran’s crypto this week, U.S. Treasury Secretary Scott Bessent has said. It isn’t clear which asset though. U.S. Treasury Secretary Scott Bessent has said the American authorities will soon seize $1 billion in crypto from Iran. Speaking on Newsmax’s NPolicy Summit in Washington, D.C. on Thursday, Bessent added that economic sanctions on the Middle Eastern country were working. Iran has been using bitcoin — and other cryptocurrencies — to skirt around U.S. sanctions. The U.S. in April started targeting crypto wallets linked to the Iranian regime, Bessent said at the time.

First reported by Bitcoin Magazine. This page is a short excerpt; the full text is theirs.