US Sanctions Expand to Iran's Crypto Sector Amid $100M Oil Payment Allegations

The US Treasury has expanded its sanctions on Iran to include the country's digital asset sector. The move comes after allegations that over $100 million in cryptocurrency was used for oil sales.

The Office of Foreign Assets Control (OFAC) issued a sectoral sanctions determination covering digital assets, technology, gold, aviation and shipping. Nearly 60 entities, individuals, and vessels were also sanctioned across various networks, including nuclear, missile, cyber, and oil.

The Treasury said Iran increasingly uses cryptocurrency as a means of evading sanctions, particularly for transactions linked to the Islamic Revolutionary Guard Corps (IRGC) and government insiders.