US freezes $344 million in crypto linked to Iran

WASHINGTON: The United States has frozen $344 million worth of cryptocurrency allegedly linked to Iran. This move is being seen as a new step by the administration of Donald Trump to increase pressure on Tehran.

According to CNN, US Treasury Secretary Scott Bessent said that the Treasury Department has imposed sanctions on several crypto wallets connected to Iran.

He said that the aim of the US move is to systematically eliminate Iran’s ability to generate and transfer funds.

“We will track the money that Tehran is trying to move out of the country and target every financial supply line connected to the Iranian government,” he said in his statement.

According to the report, this move comes at a time when diplomatic efforts to end the war are at a standstill and the global economy is also being affected by the effects of the conflict.