US Treasury tracks and freezes Iranian crypto funds, Bessent says

Treasury Secretary Scott Bessent says authorities know where Iran-linked digital assets sit, as a sanctions campaign targeting roughly $1 billion widens The US Treasury is tracking Iran’s crypto holdings and freezing them, according to Treasury Secretary Scott Bessent. Washington’s sanctions machine has spent decades following tankers and wire transfers. Now it is following wallet addresses too. This matters now because the target is large. Authorities are reportedly preparing to seize around $1 billion in Iranian digital assets tied to the Islamic Revolutionary Guard Corps (IRGC). The idea that crypto offers a clean escape from US sanctions is looking shakier by the week. The effort sits under a broader sanctions push called “Operation Economic Outcast.” It was announced on August 24, 2026.

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