U.S. Treasury blacklists four Iranian crypto exchanges and executives

The U.S. Treasury Department added four Iranian cryptocurrency exchanges to its Specially Designated Nationals list on Tuesday. The action bars U.S. persons and firms from any dealings with the platforms.

Sanctions rationale Officials linked the exchanges to Iran's terrorist activities, sanctions evasion and transactions connected to the Islamic Revolutionary Guard Corps. The platforms were also said to have facilitated ransomware payments and helped move assets out of Iran after U.S. strikes began earlier this year.

Context of broader campaign The sanctions follow a recent announcement that the department had seized about $1 billion in cryptocurrency from Iranian exchanges and wallets since the start of the conflict. A Treasury statement noted that Iran has used digital assets to evade sanctions and transfer wealth abroad.

The department also warned that payments made to transit the Strait of Hormuz, including those in digital assets, carry sanctions risk.