The United States expects to seize approximately $1 billion in cryptocurrency linked to Iran, according to Treasury Secretary Scott Bessent, as Washington expands efforts to restrict the Iranian regime’s access to international markets and financial channels.
Bessent Calls Crackdown An “Absolute Isolation Campaign”
Speaking to Greta Van Susteren at Newsmax’s NPolicy Summit in Washington, Bessent described the measures as part of an “absolute isolation campaign.” He said authorities knew where the assets were and working to isolate them. The broader effort also involves restrictions targeting transportation networks, land routes, air travel and oil-related shipping.
Bessent’s remarks come amid diplomatic tensions and mediation efforts involving Qatar and Pakistan. He also referenced coordination with the United Arab Emirates (UAE) and Oman, alongside discussions with Pakistan and Turkey concerning land routes.
Earlier Enforcement Actions Targeted Iran-linked Crypto & Oil Networks
The crypto-focused enforcement effort trails earlier actions against digital asset infrastructure allegedly connected to Iran. On September 17, the Office of Foreign Assets Control (OFAC) nominated BitBank, defined as a digital assets venture linked to previously designated Iranian financier Babak Zanjani, along with linked individuals and a developer company. On October 8, the Treasury targeted vessels and companies connected to what it described as fragments of Iran’s shadow fleet used for petroleum shipments.
Bessent Says U.S. May Seize About $1B in Iran-Linked Crypto This Week
According to Newsmax, U.S. Treasury Secretary Scott Bessent said at the NPolicy Summit in Washington that the U.S. may seize about $1 billion in cryptocurrency linked to Iran this week, adding that authorities “know where it is.” He said the move is part of an “absolute isolation campaign” that also includes maritime blockades, flight restrictions and efforts to close Iran’s land routes.
Bessent said in May that the U.S. had already seized about $1 billion in Iran-linked crypto assets, although it remains unclear whether the latest $1 billion target is additional to previously announced seizures.
— Wu Blockchain (@WuBlockchain) October 9, 2026
Tether has reported supporting halts totalling approximately $550 million in USDT during 2026 across wallets U.S. authorities recognized as linked to Iran’s central bank and related networks. Separately, on September 14, the U.S. Attorney’s Office for the Southern District of New York filed a civil penalization complaint pursuing around $61 million in cryptocurrency supposedly representing proceeds from black-market sales of authorized Iranian oil.
Details Of The Planned $1B Seizure Remain Unconfirmed
However, Bessent’s latest observations did not identify specific tokens, wallet addresses or the specific legal mechanisms for the anticipated seizure. Official details confirming execution of the proposed $1 billion action were not accessible in the report.
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