Investing.com — The U.S. Treasury Department is sanctioning multiple wallets tied to Iran, thereby freezing $344 million in cryptocurrency.
“Treasury’s Office of Foreign Assets Control is sanctioning multiple wallets tied to Iran — resulting in the freeze of $344 million in cryptocurrency,” Treasury Secretary Scott Bessent said in a statement on X.
This comes as fragile diplomatic efforts to end the war remain stalled and the global economy struggles with the consequences. During the uneasy ceasefire, the administration has intensified economic pressure on Iran. It is unclear whether the large sum of money seized will influence Tehran’s stance on the war or negotiations.
“We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” Bessent added.
Cryptocurrency holdings in Iran reached $7.8 billion in 2025, growing at a faster rate for most of the year than in 2024, according to crypto-tracing firm Chainalysis.
On Thursday, Tether, a digital currency company that facilitates crypto transactions around the world, announced it had “supported the US government in freezing” $344 million in cryptocurrency across two addresses, after information was shared “by several U.S. authorities about activity tied to unlawful conduct.”
