US Can Now Sanction Anyone Operating in Iran's Crypto Sector
The U.S. Treasury launched a major sanctions campaign against Iran, expanding its authority to target anyone worldwide operating in or serving Iran’s digital asset sector. Under new sectoral determinations, OFAC can now designate foreign persons in digital assets, technology, gold, aviation, and shipping, with the digital asset move aimed at blocking crypto-based sanctions evasion. Treasury said Iran increasingly uses cryptocurrency to support the IRGC and regime insiders. The campaign, called Operation Economic Outcast, gives countries timelines to cut Iran-related activity before secondary sanctions apply. Among the targeted names, two were tied directly to crypto: Ivan Obukhov, accused of processing over $100 million in crypto for IRGC oil sales, and Arman Kahzadian, linked to cyber theft of Bitcoin wallets. The move follows earlier sanctions on Nobitex and firms accepting Bitcoin for transit through the Strait of Hormuz. Iran rejected the effort as ineffective and hostile.
