US intensifies crackdown on Iran's use of crypto

The U.S. government is strengthening its efforts to crack down on Iran's use of cryptocurrency, Fox Business reported. The move is intended to block alternative financial channels that Iran uses to evade sanctions. U.S. Treasury Secretary Scott Bessent announced that authorities have frozen approximately $500 million in crypto linked to the Iranian regime. Meanwhile, Iran is estimated to hold around $7.7 billion in digital assets.