Bessent characterized the crackdown as an "absolute isolation campaign" while speaking at a conference. The seizures target Iranian digital holdings to restrict the nation's ability to move funds and evade financial pressure.
Wednesday, October 21, 2026
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US Doubles Iranian Crypto Seizures to Over $1B
Crypto12 days ago
Treasury officials have seized a series of digital wallets belonging to Iran, with the total amount of recovered cryptocurrency now exceeding $1B. This current total is double the $500M in assets the US took in April as part of an effort to increase economic pressure on Tehran. Treasury Secretary Scott Bessent said on Thursday that the US will probably seize another $1B in crypto assets this week, noting that the government knows the location of the funds.
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