On June 2, the Office of Foreign Assets Control (OFAC) sanctioned four Iranian digital asset exchanges — including the country’s largest, which purportedly processed more than 50 percent of all Iranian digital asset inflows in 2025 — for allegedly facilitating sanctions evasion, terrorist financing, and transactions linked to the Iranian Revolutionary Guard Corps (IRGC). OFAC also designated the largest exchange’s chairman, co-founder, and former CEO, along with other company leaders and officials. OFAC alleged that the largest exchange alone: (i) facilitated payments tied to IRGC-linked ransomware actors; (ii) assisted the Central Bank of Iran in obtaining stablecoins valued at hundreds of millions of dollars to support the Iranian rial; (iii) allowed regime-connected actors to use foreign digital asset platforms to circumvent sanctions in multiple jurisdictions; and (iv) helped protect and transfer regime assets out of the country amid internet blackouts that followed the start of U.S. combat operations in Iran.

Treasury stated that the actions were taken under its counterterrorism authority pursuant to Executive Order 13224 (as amended) and Executive Order 13902, which targets persons operating in Iran’s financial sector.