US Confiscates $1B in Crypto from Iran; Tether Freezes USDT on Request
US Treasury Secretary Bessent announced at the Reagan Economic Forum that the United States has seized $1 billion worth of cryptocurrency from Iran. Tether is actively cooperating by freezing any USDT tokens identified by the Treasury.
US Treasury Secretary Scott Bessent revealed at the Reagan Economic Forum that American authorities have confiscated approximately $1 billion in cryptocurrency from Iran. The move marks one of the largest crypto seizures by the US government and underscores ongoing efforts to disrupt illicit financial flows.
In a related development, Tether has confirmed its cooperation with the US Treasury, stating it helps freeze any USDT that the department flags. This highlights the extent to which stablecoin issuers can be leveraged for enforcement actions, potentially affecting the broader crypto ecosystem.
No further details on the specific wallets or timing of the seizure were provided in the announcement.
Source: MarketTwits