US targets $1 billion Iran-linked crypto seizure, Bessent says ‘we know where it is’
60-second summary
US officials announce a $1 billion seizure of Iran‑linked cryptocurrency, with Treasury’s Bessent stating “we know where it is” and detailing a coordinated takedown after months of sanctions and asset freezes; the operation targets illicit wallets and exchanges, signaling intensified enforcement that could pressure illicit crypto flows and tighten compliance scrutiny across the industry.
Bessent’s latest crypto seizure plan follows months of sanctions and freezes targeting Iranian assets.