US Authorities Seize Cryptocurrency Linked to Iran, Targeting Funding Networks

Deep News15:50

The US government has frozen over $130 million in cryptocurrency alleged to be connected to Iran.

According to reports, the US Treasury Department imposed sanctions on several digital wallets associated with the Central Bank of Iran, leading to the freezing of the related assets. Authorities also simultaneously sanctioned more than 50 targets allegedly connected to an Iranian network for evading sanctions.

This action follows a move by the US Treasury in April of this year, when it froze $344 million in cryptocurrency linked to Iran.

Secretary of the Treasury Janet Yellen stated in a post on a social media platform that the US government will continue to actively track the flow of funds to prevent the Iranian regime from accessing the proceeds from related revenue schemes.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment