The United States has frozen $344 million in cryptocurrencies related to Iran.

U.S. Treasury Secretary Scott Bessent stated that the Treasury Department is sanctioning multiple wallets linked to Iran and will track and strike all financial lifelines connected to the regime. Tether previously announced it had assisted the U.S. government in freezing $344 million worth of cryptocurrency in two addresses. Chainalysis data shows that the activity patterns of these wallets are consistent with the on-chain fund flow characteristics of wallets belonging to the Islamic Revolutionary Guard Corps (IRGC). U.S. officials stated that blockchain analysis revealed that the funds were transacted through intermediary addresses with wallets linked to the Central Bank of Iran, used to circumvent sanctions and facilitate international trade. Iran's cryptocurrency holdings are projected to reach $7.8 billion by 2025, with the IRGC holding approximately 50% of that amount in the fourth quarter of last year.