U.S. expands Iran crackdown to crypto, gold, shipping and technology

The U.S. Treasury added Iran's cryptocurrency industry to the sectors it can sanction. OFAC issued a determination allowing it to sanction any person, regardless of location, that it determines operates in Iran's cryptocurrency sector. The determination exposes foreign exchanges, brokers and service providers to potential blacklisting. Treasury said the Iranian regime increasingly uses cryptocurrency to evade sanctions. Treasury linked those transactions to the Islamic Revolutionary Guard Corps and Iranian regime insiders. 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. Those wallets accounted for over half of Iranian crypto inflows in the fourth quarter. The estimates cover only wallets publicly tied to sanctions listings. Crypto was one of five sectors targeted under Operation Economic Outcast. Technology, gold, aviation and shipping were the other included sectors. The crackdown included nearly 60 designations. Treasury Secretary Scott Bessent described the operation as an economic "D-Day."