Trump Administration Freezes Over $130 Million in Crypto Assets Linked to Iran

The Trump administration announced the freezing of over $130 million in cryptocurrencies, which it states are linked to Iran, a move aimed at escalating economic pressure on Tehran. Treasury Secretary Scott Bissett, in a post on "X", affirmed the administration's commitment to aggressively track these funds and prevent the Iranian regime from accessing illicit revenue proceeds. He stressed that the U.S. Treasury Department is dedicated to disrupting Iran's unlawful financial activities, including its misuse of digital assets, and curbing their proliferation. Furthermore, the U.S. Treasury Department on Tuesday imposed sanctions on several digital wallets allegedly associated with the Central Bank of Iran, resulting in the freezing of their assets. The department also sanctioned over 50 entities reportedly linked to an Iranian network for sanctions evasion. A source familiar with the matter indicated that Tether, a cryptocurrency firm facilitating global crypto transactions, is involved in this asset freeze. It is noted that the administration had previously frozen $344 million in cryptocurrencies in April, also allegedly connected to Iran. This digital currency freeze comes amid escalating tensions and the collapse of a U.S.-Iran memorandum of understanding, originally intended to end their conflict. Washington has intensified military operations against Tehran, launching another round of airstrikes on Tuesday.