The U.S Treasury confirmed it recently froze $344 million in crypto funds belonging to the Iranian regime. 

According to the statement, the exercise was carried out by OFAC (Office of Foreign Assets Control), which implements sanctions, and Tether, the world’s largest stablecoin issuer. The funds were in USDT, hence Tether became crucial in the operation. 

Commenting on the same, U.S Treasury Secretary Scott Bessent said they’ll continue to systematically degrade Tehran’s ability to generate and move funds. 

He added, 

We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime.

Is Iran’s crypto strategy under threat?

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