US Treasury Widens Iran Sanctions Net to Include Crypto and Gold

The US Treasury has expanded its Iran sanctions to include crypto, gold, technology, aviation, and shipping, targeting nearly 60 people, companies, and vessels across multiple countries.

The move aims to stop Iran from using alternative financial channels to avoid US pressure. The IRGC is estimated to account for around 50% of Iran's crypto activity, using digital assets for oil sales and moving money.

Treasury Secretary Scott Bessent warned that companies helping Iran move illegal money could be cut off from the US dollar system. Tether was pressured into freezing about $475 million in USDT linked to Iran, and a UAE-based shipping broker was accused of handling more than $100 million in crypto payments connected to Iranian oil sales.