US Treasury Targets Iran's Crypto Sector with Economic Outcast Operation

The US Treasury Department has launched Operation Economic Outcast to target Iran's international financial links, including cryptocurrency activity. The campaign aims to cut off Iran from global financial networks and disrupt its ability to sell oil, move money, and evade sanctions.

Treasury officials claim that Iranian officials and connected groups are increasingly using cryptocurrency for transactions outside traditional banks, making it a key target of the operation. According to the department, Iran has turned to crypto for sanctions evasion and payments linked to the IRGC and government insiders.

The Treasury warned foreign companies that maintaining commercial ties with Iran could lead to similar isolation from global markets. The campaign also targets other industries, including technology, gold, aviation, and shipping, which Tehran allegedly uses to sell oil and receive payments despite US restrictions.