The US Department of the Treasury has just activated Operation Economic Outcast under orders from President Trump. This sanctions campaign aims to sever Iran’s global financial lifelines, with crypto listed as a primary target. US officials accuse the country of using digital assets to evade sanctions and fund the Islamic Revolutionary Guard Corps (IRGC).
Through this new operation, the Office of Foreign Assets Control (OFAC) has received full authority to impose sanctions on any party operating in Iran’s crypto sector, regardless of geographical location. The targets include companies, intermediaries, payment channels, and facilitators helping Tehran sell oil and move money.
Evidence of Millions of Dollars Transferred to the IRGC
The latest wave of sanctions on August 7, 2026, immediately hit local crypto entities Shelbit and Aban Tether, along with an Iranian citizen named Siavash Kayvanpour. Investigations by authorities revealed that wallet addresses affiliated with the IRGC had sent more than $1 million to Shelbit. Conversely, wallets owned by Shelbit were recorded transferring over $2 million to addresses controlled by the armed group.
A similar trail was found on Kayvanpour. His wallets were detected sending more than $2 million to Nobitex, the country’s largest crypto exchange. Meanwhile, Aban Tether is accused of processing withdrawals from Nobitex, Wallex, Bitpin, and Ramzinex - four local exchanges that had already been sanctioned last June.
Enforcement Net Over the Tron Network
Although only recently announced as a major campaign, the tightening of Iran’s crypto access has been underway since mid-year. In July 2026, the US successfully froze $131 million worth of USDT coins spread across four Tron wallets belonging to the central bank of Iran.
Three months prior in April, approximately $344 million USDT in two Tron addresses linked to an Iranian money laundering network was also seized. This enforcement was carried out directly by Tether through control instruments within their stablecoin smart contract.
New Rules of the Game for the Global Industry
Crypto is certainly not the only sector targeted. This operation also targets the technology, gold, aviation, and maritime shipping industries. “Our goal is to cut off every economic pathway supporting this tyrannical regime until Tehran stands alone,” said US Treasury Secretary Scott Bessent.
Washington’s maneuver brings serious consequences for crypto industry players outside the US. Foreign companies that dare to maintain business with Iranian clients now run the risk of being fully isolated from the American financial system. For global exchange operators, custodians, stablecoin issuers, and payment service providers, they must immediately update their wallet screening systems and customer verification procedures if they do not want to be swept up in OFAC’s net. Reported by crypto.news.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
