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Treasury Secretary Scott Bessent said the US may seize about $1 billion in cryptocurrency linked to Iran this week, adding that authorities “know where it is.” He described the move as part of an “absolute isolation campaign” targeting Iran.
Why it matters
Bessent said the campaign also includes maritime blockades, flight restrictions and efforts to close Iran’s land routes. The crypto action sits alongside those measures as part of broader US pressure on Tehran.
Market impact
Bessent said in May that the US had already seized about $1 billion in Iran-linked crypto assets. It remains unclear whether the latest potential seizure would be additional to those previously announced, leaving the total amount in question.
Frequently asked questions
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How much Iran-linked cryptocurrency may the US seize?
Treasury Secretary Scott Bessent said the US may seize about $1 billion in Iran-linked cryptocurrency this week.
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What did Bessent say US authorities know about the crypto?
Bessent said authorities “know where it is.”
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What measures are included in the US isolation campaign?
Bessent said the campaign includes maritime blockades, flight restrictions and efforts to close Iran’s land routes.
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Had the US previously announced seizures of Iran-linked crypto?
Yes. Bessent said in May that the US had already seized about $1 billion in Iran-linked crypto assets.
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Is the potential seizure separate from the earlier $1 billion in seizures?
It is unclear whether the latest target is additional to the seizures announced in May.
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