U.S. widens Iran crackdown to encompass crypto, gold, shipping and technology
The U.S. Treasury's Office of Foreign Assets Control (OFAC) has expanded its sanctioning authority to target any individual or entity operating within Iran's cryptocurrency sector. This move, part of a broader initiative called Operation Economic Outcast, aims to curb sanctions evasion by the Islamic Revolutionary Guard Corps and other regime insiders.
Why it matters
This policy shift significantly increases the regulatory risk for global crypto firms and intermediaries, as the U.S. now has a standing legal basis to penalize any entity worldwide that facilitates Iranian digital asset transactions.
The Office of Foreign Assets Control (OFAC) issued a determination allowing it to sanction any person, regardless of location, it determines operates in Iran’s cryptocurrency sector.
“The Iranian regime increasingly turns to cryptocurrency as a tool of choice for sanctions evasion, supporting transactions linked to the Islamic Revolutionary Guard Corps (IRGC) and Iranian regime insiders,” a Treasury announcement reads.
Iran’s crypto ecosystem reached $7.78 billion in 2025, according to Chainalysis data. IRGC-linked wallets received more than $3 billion during the year and accounted for over half of Iranian crypto inflows in the fourth quarter, though the estimates cover only wallets publicly tied to sanctions listings.
Crypto was one of five sectors named under Operation Economic Outcast, which Treasury Secretary Scott Bessent described as an economic “D–Day.” Technology, gold, aviation and shipping were the other included sectors.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in