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US expands Iran crackdown to include Iran’s crypto sector
The Treasury says it can sanction anyone it determines operates in Iran’s digital asset industry, and cites more than $100 million in crypto processed for IRGC-QF oil sales since 2023.
The US Treasury has expanded its sanctions campaign against Iran to include Iran’s cryptocurrency sector, giving the Office of Foreign Assets Control a standing basis to sanction relevant actors regardless of where they are located, according to CoinDesk.
Treasury says Ivan Obukhov processed more than $100 million in crypto payments since 2023 to facilitate Iranian oil sales on behalf of Islamic Revolutionary Guard Corps-Qods Force, and OFAC can now sanction people it deems to be operating in Iran’s digital asset space, including exchanges, brokers, and service providers.
The action is part of Operation Economic Outcast, which targeted five sectors, including crypto, gold, aviation, and shipping, alongside technology. CoinDesk reports the Treasury said crypto is increasingly used by Iran to evade sanctions, supporting transactions linked to IRGC and regime insiders.
CoinDesk also notes Chainalysis data cited by the Treasury, estimating Iran’s crypto ecosystem at $7.78 billion in 2025 and that IRGC-linked wallets received more than $3 billion during the year, accounting for over half of Iranian crypto inflows in the fourth quarter. The Treasury said the change does not automatically blacklist every Iranian crypto company or prohibit all activity involving the country’s digital asset industry.
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