US Treasury Signals Possible $1 Billion Crypto Seizure Tied to Iran
Treasury Secretary Scott Bessent said the United States could seize about $1 billion in cryptocurrency linked to Iran this week. He said authorities know where the funds are and are isolating them, but no wallets or holders were publicly identified. It is unclear whether the amount is separate from earlier seizures announced since April, and freezing assets would not equal legal confiscation.
Bessent described the effort at the Newsmax Policy Summit in Washington on Thursday. He framed it as part of a broader push to cut off funding for Iran’s government, alongside trade, financial, aviation and maritime restrictions tied to the conflict.
Earlier, in April, he announced nearly $500 million in crypto linked to Iran. A month later, he raised that estimate to roughly $1 billion and said authorities had assumed direct custody of the wallets. The latest figure’s relation to those operations remains unclear.
The announcement could heighten compliance pressure on exchanges and stablecoin issuers, potentially affecting ordinary users if wallets are frozen or blacklisted. It may also reinforce perceptions that blockchain assets are traceable and subject to state action, influencing how businesses and individuals assess custody and sanctions risk. For Iran-linked parties, access to funds could be further constrained, while legal distinctions between freezing and confiscation may shape due-process debates.