U.S. Treasury sanctions crypto exchanges for allegedly financing Iran's Islamic Revolutionary Guard Corps.
Regulation & Gov ·
The U.S. Treasury has sanctioned two Iranian cryptocurrency exchanges as part of an "Economic Fury" campaign, citing their alleged role in channeling funds to Iran's Islamic Revolutionary Guard Corps. Investigators traced approximately $3 million in transfers from these platforms to wallets linked to IRGC entities, according to the action.
The sanctions represent an expansion of Treasury enforcement against Iranian financial infrastructure, targeting cryptocurrency as a financing vector for designated organizations. The exchanges facilitated transactions that circumvented traditional banking restrictions, allowing the IRGC to access funds through digital asset channels despite broader sanctions regimes.
It remains unclear whether additional exchanges face investigation, what enforcement mechanisms the Treasury plans to deploy against foreign users or wallet holders, or how these platforms will respond operationally to the designations.