- Treasury Secretary Scott Bessent says the U.S. has seized about $1 billion in Iranian crypto assets.
- The figure nearly doubles estimates provided by officials a month earlier.
- The administration says the seizures are part of efforts to disrupt sanctions evasion.
- Confiscated digital assets may eventually contribute to the U.S. digital asset reserve.
Seizures Continue to Grow
U.S. Treasury Secretary Scott Bessent says the federal government has seized approximately $1 billion in cryptocurrency connected to Iran, significantly increasing the amount previously disclosed by officials.
Speaking at the 2026 Reagan National Economic Forum, Bessent said the United States believes Iran has been generating hundreds of millions of dollars each month through sanctions evasion activities. He claimed authorities have successfully taken control of numerous cryptocurrency wallets linked to those operations.
The latest figure represents a substantial increase from April, when Bessent stated that authorities had confiscated nearly $500 million in Iranian digital assets.
Treasury Intensifies Pressure
Bessent said the Treasury Department continues to freeze bank accounts and restrict access to financial infrastructure connected to the Iranian government. According to the secretary, reducing the willingness of international counterparties to do business with sanctioned entities remains a key objective.
The administration has increasingly highlighted cryptocurrency enforcement as part of its broader sanctions strategy, arguing that digital assets have become an important tool for countries seeking to bypass traditional financial restrictions.
Bitcoin Reserve Strategy Remains Unchanged
Bessent also reiterated the administration's position on the U.S. strategic digital asset reserve. He said the government does not plan to purchase bitcoin directly but will continue adding confiscated digital assets obtained through law enforcement actions and forfeitures.
According to blockchain intelligence platform Arkham, the U.S. government currently controls approximately 328,372 BTC, making it the largest known state holder of bitcoin. At current market prices, those holdings are valued at more than $24 billion.
