According to Fox Business, as the situation in the Middle East escalates, the U.S. government is stepping up efforts to crack down on Iran's use of cryptocurrencies to cut off its non-traditional financial channels. U.S. Treasury Secretary Scott Bessent stated that the Treasury has frozen nearly $500 million worth of cryptocurrencies related to the Iranian regime, with $344 million frozen just last month. According to the latest estimates from data companies, Iran currently controls approximately $7.7 billion in digital assets.

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