US Targets Iran's Crypto Sector in Global Sanctions Push

The US Treasury Department has launched Operation Economic Outcast, a campaign to target Iran's international financial links, including cryptocurrency activity. The operation aims to cut off Iran from global financial networks by sanctioning individuals and entities that help Tehran sell oil, move money, avoid restrictions, or finance groups designated by the US.

Operation Economic Outcast covers various sectors, including cryptocurrency, technology, gold, aviation, shipping, and others. According to the Treasury Department, Iran has turned to cryptocurrencies for sanctions evasion and payments linked to the IRGC and government insiders. The department says it can sanction people operating in Iran's crypto sector, regardless of their location.

The campaign follows several US actions against Iran-linked exchanges, wallets, and companies during 2026. In one instance, OFAC sanctioned Shelbit, Aban Tether, and Iranian national Siavash Kayvanpour after alleging that they helped move funds connected to sanctioned parties. The Treasury also froze $131 million in USDT held across four Tron wallets linked to Iran's central bank.

Bitcoin remained near $79,000 after briefly testing the psychological $80,000 level, showing little immediate reaction to the Treasury campaign. The level remains a significant barrier for the cryptocurrency after its recovery from prices below $65,000 earlier in August.