US Targets Iran Crypto Sector with $100M Sanctions Enforcement

The US Treasury has expanded its Iran sanctions framework to include the country's digital asset sector. This move aims to crack down on alleged $100 million in crypto payments used to facilitate Iranian oil sales.

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

Iran is increasingly using crypto as a tool for sanctions evasion, the Treasury said, with alleged transactions linked to the Islamic Revolutionary Guard Corps (IRGC) and government insiders. OFAC sanctioned Ukrainian broker Ivan Obukhov, who allegedly processed over $100 million in crypto payments since 2023 on behalf of the IRGC's Quds Force.