WASHINGTON: The U.S. government, under the Trump administration, froze $344 million in USDT cryptocurrency linked to Iran, intensifying financial pressure on Tehran amid stalled diplomatic efforts and a fragile ceasefire in ongoing conflicts.
The Office of Foreign Assets Control (OFAC) and other U.S. agencies identified connections to the Iranian regime through blockchain analytics, including transactions with Iranian exchanges and wallets tied to the Central Bank of Iran. Tether, the issuer of USDT, collaborated with U.S. authorities to freeze funds in two Tron blockchain addresses.
Treasury Secretary Scott Bessent announced sanctions on multiple wallets associated with Iran, stating the U.S. would track and target Tehran’s financial channels. Tether confirmed the freeze followed information from U.S. agencies about unlawful activities, reaffirming its commitment to regulators.
The move, which took place on April 23-24, 2026, is part of broader sanctions enforcement against Iran’s use of cryptocurrency to evade restrictions and fund military activities. It remains unclear whether this action will shift Iran’s position in negotiations, but it highlights growing U.S. scrutiny of stablecoins in sanctions evasion.
