US Treasury Cracks Down on Iranian Crypto Activity

The US Treasury has expanded its sanctions on Iran to include crypto, gold, technology, aviation, and shipping. This move aims to prevent Iran from using alternative financial channels to avoid US pressure.

Crypto is now a key target in the sanctions effort, with the IRGC estimated to account for around 50% of Iran's crypto activity. The Treasury says that digital assets are being used for oil sales, money movement, and avoiding sanctions.

The new rules give OFAC more power to target individuals and companies linked to Iran's crypto, gold, and technology sectors. Nearly 60 people, companies, and vessels have already been sanctioned across countries such as the UAE, China, Hong Kong, Singapore, and Europe.