US Targets Iran's Crypto Networks in Bid to Enforce Sanctions
The US government is taking steps to prevent Iran from using cryptocurrency to evade sanctions. This effort comes as the country pushes to bring crypto into the mainstream financial system.
According to Chainalysis, the US ranked second globally in its 2025 crypto adoption index, with North America accounting for around 26% of global crypto transactions between July 2024 and June 2025.
The growth of crypto in Iran appears closely connected to economic and geopolitical pressure. The Iranian rial has lost nearly 90% of its value since 2018, leading people to use self-custody to move their money outside the local banking system.
The US is targeting exchanges, issuers, wallets, intermediaries, and financial systems that connect Iran's crypto activity to the rest of the world. In recent months, the US Treasury's OFAC has sanctioned several Iranian crypto platforms, including Nobitex and Shelbit.