BlockBeats News, May 21st, according to Forbes news, as the situation in the Middle East intensifies, U.S. officials are working to sever financial channels related to the Iranian regime and increase efforts to crack down on Iran's growing use of cryptocurrency.

According to the latest estimate from a threat intelligence data company, Iran controls around $7.7 billion in digital assets. Industry insiders believe that Washington may escalate pressure by threatening to sever the connections between cryptocurrency exchanges and the U.S. banking system.