US Freezes $344 Million in Tether's USDT, Citing Iranian Regime Ties

In its latest move to disrupt Iranian financial networks, the US Treasury Department has frozen $344 million in cryptocurrency, citing links to the Iranian regime. Treasury Secretary Scott Bessent stated that the Office of Foreign Assets Control is targeting all financial channels tied to the regime as part of a broader 'Economic Fury' campaign. The freeze follows Tether's decision to blacklist two blockchain addresses holding $344 million in USDT. According to a US official, the sanctioned wallets had significant ties to the Iranian regime, including transactions with Iranian exchanges and connections to the Central Bank of Iran. The move is part of a larger effort to combat Iran's use of digital assets to bypass restrictions and obscure cross-border transactions. The Treasury Department is working with blockchain analytics firms and financial institutions to track illicit flows tied to sanctioned entities.