The seizure, falling under "Operation Economic Fury," aims to restrict Iran's access to overseas revenue, banking networks, and crypto infrastructure.

Treasury Secretary Scott Bessent said the U.S. has "outright grabbed" roughly $1 billion worth of cryptocurrencies from Iran via seizures.

Treasury Secretary Bessent announced the seizure of roughly $1B in Iranian crypto holdings under Operation Economic Fury, with $500M in USDT confirmed frozen.