Scott Bessent announces sweeping sanctions targeting Iran’s digital assets and technology

US Treasury Secretary Scott Bessent just declared what amounts to economic war on Iran’s remaining financial lifelines, and crypto is near the top of the target list. The initiative, dubbed “Operation Economic Outcast,” rolls out new sectoral sanctions across five areas: digital assets, technology, gold, aviation, and shipping. Over 60 entities, individuals, and vessels were sanctioned in the announcement, covering everything from nuclear technology procurement networks to oil revenue operations. The crypto dimension is real, and it’s escalating Operation Economic Outcast builds on a prior campaign called “Economic Fury,” which targeted Iranian digital asset exchanges and resulted in roughly $1 billion in seized digital assets tied to the regime. Iran’s Islamic Revolutionary Guard Corps has reportedly leveraged digital asset channels to move money outside the reach of traditional banking restrictions. Bessent’s “Economic D-Day” and the dollar threat Bessent described Operation Economic Outcast as an “unprecedented economic offensive” and used the term “Economic D-Day” to characterize its scope. Bessent indicated that countries must dismantle identified activities within specified t...