U.S. says it seized about $1 billion in Iranian crypto

The United States has seized about $1 billion worth of cryptocurrency tied to Iran, Treasury Secretary Scott Bessent said, calling the move part of a broader effort to cut off funding channels used by Tehran. Bessent said U.S. authorities had “grabbed the wallets” and that the action falls under Operation Economic Fury, an initiative aimed at restricting Iran’s access to overseas revenue, banking networks and digital-asset infrastructure.

A Treasury press release added that the department has cracked down on Tehran’s global shadow banking networks, designated networks supplying weapons and other military components to Iran, and sanctioned a corrupt Iraqi official who facilitated oil sales alongside Iran-backed militias operating in Iraq.

He said the pressure campaign has worsened economic conditions in Iran: many military personnel are not being paid, police officers are failing to report for duty, inflation has exceeded 200%, and authorities have resorted to food vouchers and internet shutdowns.

United States

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