Forbes: Iran holds approximately $7.7 billion in digital assets, and the U.S. Treasury has frozen nearly $500 million in Iranian-related cryptocurrency assets

According to Forbes, U.S. Treasury Secretary Scott Bessent stated that the U.S. Treasury has frozen nearly $500 million in cryptocurrency assets related to the Iranian regime, including $344 million frozen last month.

The report states that Iran currently controls about $7.7 billion in digital assets and uses Bitcoin to settle payments for shipping insurance via the Strait of Hormuz.

The U.S. is intensifying its crackdown on Iran's cryptocurrency activities to cut off its channels for evading sanctions and transferring funds. Industry insiders say that cryptocurrency transactions can still be tracked, and the U.S. may further pressure by restricting cryptocurrency exchanges' access to the U.S. banking system.