Fresh US Economic Restrictions Target Iranian Crypto Platforms Amid Ongoing Diplomatic Talks

Deep News
Aug 08

The United States has intensified economic pressure on Iran by imposing additional sanctions on digital asset exchanges and networks linked to Tehran's shadow banking system, seeking to increase leverage as negotiations over potential conflict continue.

The US Treasury Department blacklisted two cryptocurrency exchanges on Friday. According to the Treasury, Iranian entities used these platforms to bypass sanctions through what was described as a "vast network of shell companies and large-scale online gambling operations."

In an official statement, the Treasury said these entities helped the Iranian regime launder billions of dollars and provided support for the Islamic Revolutionary Guard Corps. The Trump administration also announced sanctions on multiple networks that facilitated the transfer of hundreds of millions of dollars through Iran's financial system.

"We will continue to increase economic pressure," US Treasury Secretary Scott Bessent stated in the announcement. "Whether it's dollars, rials, or cryptocurrencies, the Treasury will track down and dismantle the illegal financial networks that sustain the Iranian regime."

The new sanctions come after a ceasefire collapsed last month, with the Trump administration having already imposed fresh punitive measures against Iran since that breakdown.

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