The US Treasury opened Iran’s crypto sector to sanctions against anyoneOn August 24 the Office of Foreign Assets Control issued five sectoral determinations under Executive Order 13902. One of the sectors is digital assets. What changes:
• sanctions can hit any person, wherever located, who operates in or supports Iran’s crypto sector
• nearly 60 individuals, companies and vessels were designated the same day
• among them a UAE-based broker who has processed over $100 million in crypto payments for oil on behalf of Iran’s military since 2023
• foreign banks risk their US accounts if they handle a significant transaction for anyone on the list
One detail matters: no crypto venue is named in the document. The determination creates authority for the future rather than punishing crypto firms by itself.
#regulation
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