U.S. Treasury: "$1.5 Trillion Won in Iranian Crypto Seized"... Pressure Mounts Ahead of Peace Talks

Bessent: "We Secured the Entire Wallet
Some May Not Even Know Their Assets Were Seized"

New Sanctions Imposed Daily Despite Rumors of Imminent Agreement

Targeting Tankers and Circumvention Procurement Networks

The U.S. government has seized cryptocurrency assets worth 1.5 trillion won that Iran had used to circumvent U.S. economic sanctions. Even as the possibility of a peace agreement between the U.S. and Iran is being raised, the U.S. is tightening its economic pressure on Iran by simultaneously seizing virtual assets and imposing new sanctions.

Scott Bessent, U.S. Secretary of the Treasury.

According to foreign media outlets such as RIA Novosti on the 29th (local time), Scott Bessent, U.S. Secretary of the Treasury, announced at the "Reagan National Economic Forum" held at the Ronald Reagan Presidential Library in Simi Valley, California, that “We have seized approximately $1 billion (about 1.5 trillion won) worth of virtual assets owned by Iran.”

Previously, at the end of last month, the U.S. Department of the Treasury announced that it had frozen about $500 million worth of Iranian virtual assets. In just one month, the amount seized has doubled. Iran has actively used virtual assets, which are subject to less stringent regulations, as a channel for receiving payments for oil sales or securing funds, in order to evade the U.S. financial sanctions network.

Secretary Bessent explained this operation by stating, “We have secured Iran’s entire cryptocurrency wallet,” and pointed out, “Some of them may not yet even realize that their assets have been snatched by the United States.” He added that this measure represents a key achievement in the economic war against Iran led by U.S. President Donald Trump.

On this day, Secretary Bessent also mentioned the ongoing peace negotiations between the two countries. He described the current situation as involving three scenarios: reaching an agreement, maintaining pressure through a blockade, and a return to physical operations (military action). He warned that the U.S. stands ready to impose additional sanctions at any time. However, he maintained a cautious stance, saying, “If an agreement is reached, some sanctions could be lifted, but this will proceed very slowly, and the Iranian regime must strictly meet each step of the conditions.”

In fact, even amid negotiations, the U.S. Department of the Treasury has continued to roll out high-intensity sanctions on a daily basis. On this day, the Treasury, in cooperation with the Department of Commerce and the Federal Bureau of Investigation (FBI), sanctioned a procurement network linked to Iranian government agencies that had smuggled network security and encryption software into Iran by impersonating U.S. companies. The previous day, eight oil tankers involved in transporting Iranian crude oil were newly added to the sanctions list.

Meanwhile, Secretary Bessent once again defended the Trump Administration’s plan to issue so-called "Trump bills" at the event. He argued that the U.S. Congress should approve a proposal to feature President Trump’s portrait on a new $250 bill to be issued in commemoration of the 250th anniversary of the founding of the United States. Under current U.S. law, only portraits of deceased individuals can appear on currency, so this attempt to put the face of the living President Trump on money continues to spark controversy locally.

This content was produced with the assistance of AI translation services.