Fact Check: Did Treasury Secretary Bessent say the US targeting Iran’s access to crypto?

WASHINGTON, DC: A viral post on X claimed that US Treasury Secretary Scott Bessent has announced measures targeting Iran’s access to cryptocurrency as part of wider sanctions on shadow banking, weapons networks, and oil trade. 

The post has sparked discussion online, with users highlighting the challenges of enforcing restrictions on decentralized digital currencies and pointing to privacy-focused coins such as Monero as possible alternatives. Here’s a closer look at what’s actually been said.

Claim: Scott Bessent allegedly said that US is targeting Iran’s access to crypto

According to a post shared on X by @WatcherGuru, Treasury Secretary Scott Bessent reportedly said that the United States is targeting Iran’s “access to crypto.” The post quickly gained traction online, drawing numerous views and comments as users reacted to the claim.

In the replies, some users questioned how such measures align with the decentralized nature of cryptocurrency, with one asking, “Someone explain this to me? How does this align with decentralization of crypto?”

Another user questioned enforcement possibilities, writing, “Can they target Chinese crypto platforms lol?” A different commenter suggested, "Access to crypto" is a phrase that admits the trade. If crypto were irrelevant, it wouldn't need targeting. Bessent just gave Bitcoin its highest-level endorsement of the year."

Fact Check: Scott Bessent’s claim about US targeting Iran is true

The claim that Treasury Secretary Scott Bessent said the US is targeting Iran’s access to crypto is true. Recent official statements and Treasury actions confirm that the United States is targeting Iran’s access to cryptocurrency as part of a broader sanctions enforcement strategy.

In a post on X, Bessent said the "Treasury Department, through Economic Fury, has targeted Iran’s international shadow banking infrastructure, access to crypto, shadow fleet, weapons procurement networks, funding for terrorist proxies in the region, and independent Chinese “teapot” refineries that support Iran’s oil trade."

He added that these measures have disrupted tens of billions of dollars in revenue that could otherwise be used to fund terrorism. The post also stated that under President Donald Trump’s “maximum pressure” campaign, Iran has seen rising inflation and a rapid depreciation of its currency.

Bessent further highlighted that Kharg Island, Iran’s primary oil export terminal, is nearing storage capacity, which could force reductions in oil production and result in significant daily revenue losses while causing long-term damage to the country’s oil infrastructure. He concluded that, "Treasury will continue to exert maximum pressure and any person, vessel, or entity facilitating illicit flows to Tehran risks exposure to US sanctions."

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.