The U.S. Treasury expanded sanctions to Iran’s digital asset sector on Aug. 24, giving the Office of Foreign Assets Control broader authority to target foreign companies and individuals supporting the country’s cryptocurrency industry.
Summary
- OFAC added Iran’s digital asset sector to Executive Order 13902 sanctions authority on August 24.
- Treasury alleged Obukhov processed over $100 million in crypto for IRGC-linked oil sales since 2023.
- Nearly 60 entities, individuals and vessels were sanctioned across nuclear, missile, cyber and oil networks.
- Foreign banks facilitating major transactions for designated parties could lose access to U.S. correspondent…
