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The Trump administration has frozen $344 million in cryptocurrency tied to Iran, increasing economic pressure on Tehran as a fragile ceasefire holds and diplomatic efforts to end the war remain stalled.
Treasury Secretary Scott Bessent said the US is sanctioning multiple crypto wallets connected to the Iranian regime.
"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," Bessent said in a statement.
Tether, the major stablecoin issuer, said it froze the funds across two addresses after receiving information from US authorities about activity linked to unlawful conduct. A US official told CNN the assets were connected to Iran