Treasury Targets Iran in Crypto Market Shake-Up

The U.S. Treasury's actions are sending shockwaves through the crypto market as it targets Iran and expands bond buybacks.

Treasury Secretary Scott Bessent launched Operation Economic Outcast on August 24, which includes measures against digital assets, technology, gold, aviation, and shipping.

The campaign aims to pressure Iran's financial connections and revenue channels, adding a direct crypto compliance angle for exchanges, payment providers, and counterparties.

CoinMarketCap data shows Bitcoin trading near $78,851, up 1.9% over 24 hours, as the asset approaches its highest levels since the latest rebound accelerated last week.

The Treasury's larger long-end buybacks will begin on September 9 and run through November 4, with a maximum size of at least $4 billion per operation, targeting less-liquid 10-year to 30-year nominal coupon sectors.