US Freezes $131 Million in Crypto Assets Related to Iran

The US has frozen crypto assets valued at over $131 million connected to Iran's Central Bank and the Islamic Revolutionary Guards Corps. The operation was carried out in collaboration between the US Department of Treasury and Tether.

This measure is part of a campaign known as "Economic Coercion," under which the US has already blocked approximately $1 billion in digital assets related to Iran.

Iran has used cryptocurrencies for years, particularly USDT (dollar-pegged stablecoins), to circumvent sanctions and conduct international payments. Through this method, the country also attempts to reduce losses caused by depreciation of its national currency. However, all transaction history is recorded on the blockchain, which helps law enforcement detect suspicious transfers. Additionally, Tether, as the issuer of USDT, has the ability to freeze specific crypto wallets and restrict access to funds held in them.

According to US Treasury Secretary Scott Bessent, Washington will continue to monitor Iran's financial operations to prevent the regime from accessing illegal funds needed to purchase weapons.

Sanctions have also been imposed on individuals and companies in various countries that participated in weapons procurement for Iran. According to Tether, the company has frozen $4.4 billion in assets related to various crimes through cooperation with law enforcement agencies.

Source: Yahoo Finance