WASHINGTON, United States: The United States has frozen $344 million in cryptocurrency assets linked to Iran, Treasury Secretary Scott Bessent said, as Washington intensifies efforts to curb Tehran’s financial networks amid ongoing regional tensions.
Announcing the move, Bessent said the Treasury Department “will continue to systematically degrade Tehran’s ability to generate, move, and repatriate funds,” signalling a broader crackdown on Iran’s funding channels.
He added that sanctions had been imposed on “multiple wallets tied to Iran,” resulting in the freezing of digital assets.
Focus on digital finance
US officials said the action reflects a growing focus on emerging technologies used to bypass traditional sanctions, including cryptocurrencies and digital exchanges.
According to a US official speaking on condition of anonymity, authorities are targeting both conventional methods such as front companies and newer tools like digital assets to disrupt financial flows linked to Iran.
The official added that the Treasury Department is maintaining active engagement with financial institutions, including cryptocurrency platforms, to monitor and restrict such activities.
The move comes ahead of a new round of diplomatic efforts, with US envoys Steve Witkoff and Jared Kushner expected to travel to Pakistan for talks with Iranian representatives aimed at de-escalating the conflict.
Washington has increased economic pressure on Tehran with sanctions forming a key part of its strategy to limit Iran’s financial and operational capabilities.
