Odaily Planet Daily reports that Bitcoin News posted on X that the U.S. Department of the Treasury has expanded sanctions against Iran to include the entire digital assets industry, allowing OFAC to take action against industry operators regardless of their location. The measure took effect on August 24 and also extends to gold, shipping, aviation, and technology. Elliptic tracking found that Iran’s central bank has acquired at least $507 million worth of USDT; Tether froze $344 million in USDT associated with the bank in April. Iran also acquires crypto assets through Bitcoin mining, with Elliptic estimating that Iran’s Bitcoin mining accounts for approximately 4.5% of global capacity, generating crypto assets worth hundreds of millions of dollars annually. The measure does not automatically sanction all Iranian cryptocurrency users, but it grants the U.S. Department of the Treasury broader authority to target the industry and its supporters among designated entities.
U.S. Expands Sanctions to Cover Iran's Entire Digital Asset Industry
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Summary
The U.S. has expanded digital asset regulations to target Iran’s entire crypto industry, granting OFAC authority to sanction operators worldwide. The measure, effective August 24, also applies to gold, shipping, aviation, and technology sectors. Elliptic reported that Iran’s central bank has acquired at least $507 million in USDT, with Tether freezing $344 million in April. Iran’s Bitcoin mining operations, estimated at 4.5% of the global hash rate, generate hundreds of millions of dollars annually. This action reflects intensified efforts by U.S. regulators to classify crypto assets.
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