U.S. Sanctions Target Iranian Digital Asset Providers Funding Regime

The United States today announced sanctions against eight digital‑asset service providers that enable the Iranian regime to evade U.S. restrictions and finance terrorism. The Treasury Department designated the firms, which convert Iranian rials and other currencies into digital assets, allowing the regime, the Islamic Revolutionary Guard Corps (IRGC), and other sanctioned entities to move money into and out of Iran.

Several of the businesses transferred funds to digital‑asset accounts linked to the IRGC and other terrorist activities. Many also partnered with Iranian cryptocurrency exchanges already under U.S. sanctions. Some companies altered their names and addresses to avoid detection, yet continued operating despite being publicly identified as high‑risk entities.

Through Operation Economic Outcast, the United States aims to further deprive Iran of the revenue it uses to support terrorism, weapons proliferation, and its regional proxies. The latest measures deepen Iran’s economic isolation and specifically address its increasing reliance on digital assets to circumvent sanctions, building on earlier actions that targeted Iranian digital‑asset exchanges facilitating regime and IRGC financing. Anyone worldwide who assists Tehran in evading sanctions faces potential liability.

The U.S. coordinated the action closely with Canada, including Canada’s financial‑intelligence unit, FINTRAC, underscoring a shared commitment to safeguard the North American financial system from abuse. Several of the designated firms were also involved in laundering proceeds from drug trafficking, illustrating how illicit networks serve both Iran and criminal organizations that threaten community safety. The United States will continue collaborating with Canada and other international partners to expose, dismantle, and prevent these networks from providing safe haven to those who finance terrorism and evade sanctions.

Today’s designations are imposed pursuant to Executive Order 13902, which targets the Iranian digital‑asset sector, among other key sectors of the Iranian economy. For additional details, please refer to the Treasury Department’s press release.

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