From banks to blockchains: US opens new front in Iran sanctions

The U.S. Treasury Department sanctioned Iran's largest cryptocurrency exchange, Iran-based digital currency exchange "Mali Exchange," on May 23, 2024, for allegedly facilitating illicit financial transactions for Iranian banks. This action represents an escalation of U.S. efforts to disrupt Iran's financial operations outside the formal banking system, targeting its use of digital currencies to evade sanctions.

Based on initial report · will update when full text is available