The United States Treasury Department has included Iran ' s digital asset industry in the new sanctions mandate. This has allowed the United States Office of Overseas Assets Control (OFAC) to use its involvement in the Iranian encryption industry itself as one of the grounds for the new sanctions. This measure was announced in conjunction with simultaneous sanctions against Iran's nuclear, missile, network and oil networks.
Digital asset industry included
According to the United States Department of the Treasury announcement of August 24, the Iranian digital asset industry was covered by Executive Order 13902. The fields of technology, gold, aviation and shipping were also included.
This does not mean that all encryption companies serving Iranian users will be automatically placed on the sanctions list, but the OFAC can now take action against individuals and enterprises, regardless of their place of registration or operation, that are identified as “businesses in Iran's digital asset industry” or “services to support the industry”.
The U.S. claims it's over $100 million.
The United States Department of the Treasury also named Ivan Obukhov, a Ukrainian broker based in the United Arab Emirates, and stated that since 2023 it had processed over $100 million in encrypted currency payments for oil sales related to the IRGC “Al-Quds Brigade”.
The Ministry of Finance also added to the sanctions list the United Arab Emirates company Foscom FZE, which it owned and managed, stating that the company was used for related brokering. However, the bulletin did not disclose the address on the chain, the trade, the composition of the currency or the specific counterparty, so the amount is still an allegation from the United States and has not yet been supported by details on the public chain.
Increased risk of overseas platform compliance
Under the United States sanctions rules, property and property interests of listed persons in the United States or controlled by Americans will be frozen. Enterprises in which the sanctioned party holds 50 per cent or more interest may also be covered.
Americans are not normally allowed to deal with sanctioned persons. If foreign financial institutions knowingly continue to process significant transactions with related parties, they may also lose their correspondent or remittance account in the United States. This means that risk is no longer limited to local Iranian exchanges, and that overseas brokers, payment processors, wallet operators and technology service providers may also be the targets of follow-up.
Sanctions operations continued to expand in 2026
Prior to this operation, OFAC had made several attacks in 2026 against the Iranian encryption platform. Earlier named platforms include Nobitex, Wallex, Bitpin, Ramzinex, Shelbit and Aban Tether.
Of these, on August 7, the United States Treasury Department charged Shelbit and Aban Tether with processing approximately $5 million in transactions involving restricted Iranian platforms and other restricted parties. This industry-level determination is broader than previous sanctions for specific exchanges and transactions and provides a legal basis for the United States to continue to expand its list.