US Treasury targets Iran’s crypto sector in sanctions push

The U.S. Treasury Department has launched Operation Economic Outcast to target Iran’s international financial links, including cryptocurrency activity that American officials say supports sanctions evasion and the Islamic Revolutionary Guard Corps. Summary Operation Economic Outcast covers cryptocurrency, technology, gold, aviation, shipping and other financial channels. OFAC can sanction people operating in Iran’s crypto sector, regardless of where they are based. Treasury says Iran uses digital assets to support transactions linked to the IRGC and government insiders. Bitcoin remained near $79,000 after briefly testing the psychological $80,000 level. Operation Economic Outcast targets Iran’s financial links The U.S. Treasury Department said President Donald Trump directed officials to begin Operation Economic Outcast as Washington seeks to cut Iran off from financial networks outside the country. Under the campaign, Treasury plans to pursue people, companies, and intermediaries that it says help Iran sell oil, move money, avoid existing restrictions, or finance groups designated by the United States. Officials said they had already mapped facilitators, financial channels, and ot...