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US Treasury Freezes $500M in Iranian Cryptocurrency Amid Sanction Evasion Concerns

GateNews

Geopolitics Enforcement Actions Regulation & Policy

2026-05-21 19:12:32

BTC0.06%

According to Fox Business, the US Treasury Department froze approximately $500 million worth of cryptocurrency linked to Iran as part of efforts to target an Iranian cryptocurrency network estimated at $7.7 billion that the government allegedly established to circumvent US financial sanctions.

The move comes after reports that Iran has launched a digital insurance platform for cargo ships passing through the Strait of Hormuz with payments made entirely in Bitcoin.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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