US Treasury plans to seize 1 billion dollars in Iranian cryptocurrency

United States Treasury Secretary Scott Bessent announced that the country plans to seize approximately 1 billion dollars in cryptocurrency linked to Iran. Cointelegraph and Cryptonews.net both reported that Bessent disclosed the planned digital asset action during a speech on Thursday. Bessent stated that the Treasury Department expects to execute the law enforcement seizures by the end of the week as part of broader sanctions enforcement. [1][3]

Cointelegraph reported that the digital asset enforcement actions stem from sanctions tied to a recent military conflict that began in February. Bessent spoke at the Newsmax Policy Summit on Thursday, where he confirmed the pending operations. However, he did not specify whether the Treasury Department is targeting specific cryptocurrency exchanges or working directly with stablecoin issuers to freeze the assets. [1]

Bessent serves as the 79th United States secretary of the treasury, having taken office in 2025. He was previously a partner at Soros Fund Management and later founded Key Square Group, a global macro investment firm. In a separate report, Benzinga noted that Bessent has also committed to targeting entities that assist Iran with its crude oil sales. [4][6]

The planned cryptocurrency seizures mark a escalation in the financial isolation of Iran by United States authorities. Cointelegraph and Cryptonews.net both reported that the Treasury Department continues to deploy digital asset seizures as a core component of its strategy to disrupt Iranian financial networks. [1][3]