US freezes Iran’s $344 million crypto accounts in fresh crackdown

US freezes Iran’s $344 million crypto accounts as Washington steps up financial pressure and vows to track digital assets.

According to American media reports, the United States has frozen cryptocurrency accounts worth $344 million linked to Iran. The move is part of a broader strategy to restrict Iran’s access to global financial systems.

US Treasury Secretary Scott Bessent said the pressure on Iran will continue. He confirmed that the Office of Foreign Assets Control (OFAC), a department under the US Treasury, carried out the action. The aim is to monitor and block financial resources that could be used by Iran.

Officials emphasized that tracking digital currencies has become a key focus. They added that Iranian financial networks are being closely watched, especially as cryptocurrencies are harder to trace than traditional banking systems.

Media reports also claimed that Iran has been attempting to collect toll payments through the Strait of Hormuz using cryptocurrency. While this claim has not been independently verified, it has raised concerns in Washington about new ways of bypassing sanctions.

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Experts believe this step signals a stronger push by the US to control crypto-based financial activities linked to sanctioned countries. The action could also impact global crypto markets, as regulators tighten oversight on cross-border transactions.

The development highlights the growing role of digital currencies in geopolitical tensions and financial enforcement strategies.