US Treasury Cracks Down on IRGC-Linked Assets, Warns Businesses of Action
The US Treasury has launched a campaign to track and freeze assets linked to the Islamic Revolutionary Guard Corps (IRGC) worldwide, warning businesses of potential action.
In July, the Treasury froze $131 million in USDT connected to Iran's Central Bank and the IRGC, as part of its 'Economic Fury' operation. Since 2026, the campaign has resulted in nearly $500 million in frozen assets tied to IRGC-linked entities.
FinCEN issued a warning on May 11, alerting financial institutions to potential IRGC activities in digital assets, including crypto exchanges Shelbit and Nobitex, which have been linked to laundering operations. The Treasury has also expanded its targets to include actors in aviation and shipping sectors that help Iran move sanctioned goods.
Treasury Secretary Scott Bessent stated, 'Treasury will continue to deny the Islamic Revolutionary Guard Corps access to the financial networks it exploits.'