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U.S. sanctions target Iran’s digital asset sector under existing authorities

The Treasury’s action under OFAC expands potential designations to any person worldwide that knowingly facilitates crypto transactions tied to Iran’s digital asset sector.

Reported · Written up by our desk · Regulation

The U.S. Treasury said it has placed Iran’s digital asset sector under the same sanctions authority the government has long used against the country’s oil, banking, and metals industries, as part of a broader campaign targeting Iran’s sanctions-evasion methods.

According to the Treasury, the move, conducted through the Office of Foreign Assets Control, is intended to cut off crypto support for transactions linked to the Islamic Revolutionary Guard Corps and Iranian regime insiders. OFAC said foreign exchanges, OTC desks, payment processors, and infrastructure providers that knowingly facilitate such transactions could face designation.

The Treasury also designated members of a group within Iran’s Ministry of Intelligence and Security that it accused of hacking U.S. critical infrastructure and published their wallets. The outlet notes that three individuals, identified by their names in the article, had bitcoin and other crypto addresses added to the sanctioned list.

The post says the campaign is part of Operation Economic Outcast, described as an economic escalation effort against Iran, and that any designated party could lose access to the U.S. financial system, which typically follows OFAC actions.

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