According to anadolu agency, the United States Department of the Treasury on Friday announced a new round of sanctions targeting cryptocurrency networks linked to Iran, intensifying Washington’s economic pressure campaign against Tehran.
The Treasury’s Office of Foreign Assets Control (OFAC) said it is taking action against multiple digital wallets allegedly connected to Iranian financial activity, marking one of the most significant crackdowns on state-linked cryptocurrency usage to date.
Treasury Secretary Scott Bessent confirmed the move in a statement, saying, “Treasury’s Office of Foreign Assets Control is sanctioning multiple wallets tied to Iran resulting in the freeze of $344 million in cryptocurrency.”
According to the department, the targeted wallets were part of broader financial networks believed to be used to move funds outside Iran and bypass international sanctions. The frozen assets valued at $344 million represent a substantial blow to those networks.
Bessent emphasized that the action is part of a wider strategy to disrupt Iran’s ability to access global financial systems, particularly through emerging technologies like digital currencies.
“We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” he added.
The sanctions come amid growing scrutiny by U.S. authorities over Iran’s use of cryptocurrency to evade traditional banking restrictions. Officials say digital assets have increasingly become a tool for sanctioned entities to conduct cross-border transactions beyond the reach of conventional financial oversight.
The Treasury also noted that the move aligns with its broader economic campaign aimed at restricting Iran’s revenue streams and limiting its financial flexibility during ongoing geopolitical tensions.
Earlier in the day, the department separately announced additional Iran-related sanctions and issued a general license allowing the wind-down of transactions involving a China-based refinery previously linked to Iranian oil trade.
Analysts say the latest action highlights Washington’s expanding focus on blockchain-based finance as a new frontier in sanctions enforcement, signaling that cryptocurrency networks are no longer beyond the reach of regulatory authorities.
The United States has repeatedly vowed to intensify financial pressure on Iran, with officials indicating that further measures targeting both traditional and digital financial channels could follow.
