US Treasury Expands Sanctions Against Iran, Targeting Digital Assets

The US Treasury Department has expanded its secondary sanctions against Iran to include digital assets and crypto activity. This move targets five key sectors: digital assets, technology, aviation, gold, and shipping. The action aims to squeeze Iran's overseas revenue and cut off foreign companies and banks still dealing with sanctioned entities from the US financial system.

The Treasury has named specific Bitcoin wallets and other digital asset addresses in its latest round of designations. This means US persons and global exchanges are expected to screen transactions against these addresses, not just against named individuals or companies. The move builds on earlier action against Iran's largest crypto exchange, Nobitex.

Treasury Secretary Scott Bessent described the plan as part of a broader effort to tighten sanctions enforcement. He warned that countries and companies seen as helping Iran evade sanctions risk losing access to the US dollar system altogether.