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Crypto

U.S. lawmaker says U.S. should seek to secure 5 percent of bitcoin supply, sets six-month legislative deadline

Republican U.S. Representative Nick Begich has proposed targeting about 5 percent of total bitcoin supply for a U.S. strategic bitcoin reserve. In an interview with Fox Business, he urged lawmakers to pass related legislation within about six months, before the 2026 midterm elections. He backed the ARMA bill and likened a bitcoin reserve to a “new Fort Knox.” Funding options discussed include using crypto seized under Iran sanctions, with Japan yen figures cited.

Crypto

U.S. Treasury seizes $500 million in Iran-linked cryptocurrency after USDT freeze last week

The U.S. Treasury seized about $500 million worth of Iran-linked cryptocurrency, part of the Trump administration’s Iran sanctions operation dubbed “Operation Economic Fury,” CoinPost reported. Treasury Secretary Scott Bessent said the operation secured the assets and that Washington is moving quickly to the final stage of tougher sanctions. The United States is also seizing overseas assets and stepping up monitoring with private companies. Tether froze $340 million in USDT on Tron in cooperation with OFAC.