Summary US Treasury Secretary Scott Bessent revealed plans to seize approximately $1 billion in cryptocurrency linked to Iran under Trump’s restrictions. Previous enforcement operations inclu
The United States is preparing to seize approximately $1 billion in cryptocurrency linked to Iran under President Donald Trump’s economic restrictions. Treasury Secretary Scott Bessent disclosed the planned action during an interview with Greta Van Susteren at Newsmax’s NPolicy Summit in Washington.
According to Bessent, American authorities have identified the cryptocurrency holdings and expect to confiscate the assets within the week. The Treasury secretary explained that the operation forms part of Washington’s broader campaign to restrict Iran’s access to financial resources.
Bessent described the administration’s approach as an “absolute isolation campaign,” replacing the earlier maximum pressure strategy against Tehran. The campaign includes restrictions on international flights, blockades around the Strait of Hormuz, and measures affecting Iran’s neighboring land routes.
These restrictions accompany financial enforcement actions targeting cryptocurrency networks that American authorities associate with Iranian entities and sanctioned organizations.
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Washington has pursued several cryptocurrency enforcement operations against Iran throughout 2026, including wallet seizures, asset freezes, and exchange sanctions. In May, Bessent reported that American authorities had confiscated approximately $1 billion in cryptocurrency connected to Iranian financial activities.
A subsequent Treasury announcement referenced nearly $500 million in earlier seizures, creating uncertainty around the total value of confiscated assets. Additionally, July enforcement measures resulted in approximately $130 million in frozen cryptocurrency holdings associated with sanctioned Iranian wallets.
Blockchain analyst Specter connected those restrictions to four Tron addresses containing approximately $131 million in USDT blacklisted by Tether.
Treasury officials also expanded sanctions against cryptocurrency exchanges accused of facilitating transactions involving Iranian organizations under American financial restrictions. In September, authorities targeted BitBank over allegations involving substantial Bitcoin transfers to Iran’s Islamic Revolutionary Guard Corps.
Investigators alleged that the exchange facilitated hundreds of millions of dollars in Bitcoin transfers between June and July. Earlier enforcement actions targeted Nobitex, Wallex, Bitpin, and Ramzinex in June, followed by Shelbit and Aban Tether in August.
Bessent did not clarify whether the proposed $1 billion confiscation represents additional cryptocurrency or assets included in previously announced enforcement figures. The Treasury has not publicly identified the wallets involved in the proposed seizure or provided a confirmed confiscation date.
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