US Steps Up Action Against Iran’s Cryptocurrency Use

The United States is stepping up efforts to counter Iran’s increasing reliance on cryptocurrency, amid escalating tensions in the Middle East.

Treasury Secretary Scott Bessent confirmed that the Treasury Department has frozen around $500 million in crypto assets connected to the Iranian government, with $344 million of that total blocked just last month.

Meanwhile, officials estimate that Iran holds approximately $7.7 billion in digital assets overall, underscoring the scale of its exposure to the crypto sector.

Source: Fox Business