US Treasury Targets Iran's Crypto Activity, Sanctions Over $100 Million in Oil Payments

The US Treasury has expanded its economic pressure campaign against Iran by targeting crypto activity it claims has helped facilitate over $100 million in payments connected to oil sales and entities linked to the Islamic Revolutionary Guard Corps.

The move forms part of a broader effort to isolate Iran financially, which includes a renewed focus on the role of digital assets in sanctioned trade networks.

The Treasury's Office of Foreign Assets Control has broadened sanctions affecting Iran's crypto sector after alleging that digital-asset transactions supported IRGC-linked oil activity dating back to 2023.