US Sanctions Authority Targets Iran's Entire Crypto Sector

The US Treasury Department has expanded its authority to sanction any person or company operating in Iran's digital asset sector, targeting foreign exchanges, brokers, payment processors, and technology providers. This move is part of 'Operation Economic Outcast,' a campaign led by Treasury Secretary Scott Bessent to sever economic ties with the Iranian regime.

The Office of Foreign Assets Control issued five sectoral determinations on Monday under Executive Order 13902, covering digital assets, technology, gold, aviation, and shipping. These determinations expose foreign firms to potential blacklisting regardless of their location.

Treasury Secretary Bessent framed the campaign as a wartime effort to cut off economic lifelines supporting the Iranian regime. He stated that foreign governments will receive individual timelines to wind down Iran-linked activity before secondary sanctions follow.

The sectoral determination does not automatically blacklist every Iranian crypto company or user, but operating in the digital asset sector can now serve as the standalone basis for a future designation. The Treasury has also sanctioned nearly 60 entities, individuals, and vessels tied to Iranian nuclear procurement, cyber activity, and oil revenue networks.