According to CoinMeta, U.S. Treasury Secretary Scott Bessent stated that the government has seized approximately $1 billion in Iranian-related crypto assets and may take action within a week. The frozen funds cannot be transferred or redeemed from accounts controlled by Iran. Bessent noted that the Treasury Department's Financial Crimes Enforcement Network (FinCEN) has also proposed a rule that could revoke Banque Misr UAE's access as an correspondent bank with U.S. financial institutions. Bessent also mentioned that "absolute isolation measures" targeting Tehran could result in the seizure of cryptocurrencies worth $1 billion this week.