US Confiscates 500 Iranian Bitcoins

The US federal government confiscated at least 500 Bitcoins belonging to Iranians, the president of Iran’s Blockchain Association said. 
Sepehr Mohammadi added that Iranians had spent about 250 billion rials ($5.77 million) on the confiscated Bitcoins, IBENA reported.
The reason behind the move is unclear, but is purported to be the alleged circumvention of US sanctions against the country through the virtual currency.