US targets $1 billion in Iran-linked crypto seizures

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US Treasury Secretary Scott Bessent said the US expects to seize about $1 billion in cryptocurrency linked to Iran as Washington intensifies its sanctions campaign against Tehran.

Speaking at the Newsmax Policy Summit on Thursday, Bessent said authorities had identified the assets and were working to isolate them. He did not specify which cryptocurrencies or wallets were involved, or whether the planned seizure would add to amounts previously reported.

The move follows US efforts to disrupt crypto networks allegedly used to evade sanctions and finance Iran’s Islamic Revolutionary Guard Corps. In September, the Treasury sanctioned Iran-linked digital asset exchange BitBank as part of its wider enforcement campaign.