Overview
- Treasury Secretary Scott Bessent said the United States has seized roughly $1 billion in Iran-linked crypto in remarks delivered Friday, May 29, 2026.
- Independent, itemized actions that underlie that figure include a Tether freeze of about $344 million in USDT on two Tron addresses and Treasury‑reported seizures that officials have put at roughly $500 million, producing a contested total.
- The Office of Foreign Assets Control has sanctioned more than 1,000 Iran-linked entities and designated two UK-registered exchanges, Zedcex and Zedxion, which the Treasury says processed about $1 billion in IRGC-linked flows since 2023.
- U.S. authorities paired Chainalysis on-chain forensics with pressure on centralized actors like Tether to freeze tokens, a tactic that gives regulators new leverage but also highlights the custody and compliance risks of major stablecoins.
- Reporting shows Iran has explored using crypto for military and commercial payments, including Mindex contracts and proposed Bitcoin tolls in the Strait of Hormuz, a shift that could push shipping firms and small exchanges into greater legal and compliance exposure.