Forbes: Iran currently controls approximately $7.7 billion in digital assets

According to Forbes, U.S. Treasury Secretary Scott Bessent stated that the U.S. Department of the Treasury has frozen nearly $500 million in cryptocurrency assets linked to the Iranian regime, including $344 million frozen last month. The report notes that Iran currently controls approximately $7.7 billion in digital assets and uses Bitcoin to settle insurance payments for cargo ships passing through the Strait of Hormuz. The United States is intensifying its crackdown on Iran’s cryptocurrency activities to sever its channels for evading sanctions and moving funds. Industry insiders say cryptocurrency transactions remain traceable, and the U.S. may further pressure Iran by restricting cryptocurrency exchanges’ access to the U.S. banking system.