US Can Now Sanction Anyone Operating in Iran's Crypto Sector
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The US Treasury expanded sanctions to Iran’s digital asset sector, alleging a UAE-based broker processed over $100 million in crypto for oil sales.
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Exporters can now fund imports with overseas earnings without first selling their foreign currency at official rates, the Financial Times reported.
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Banca d’Italia ordered crypto service providers to implement internal controls to screen for crypto transfers tied to sanctioned entities.
Middle East Crypto Activity Triples to $350 Billion Amid Ongoing Conflict, Report Finds
The Iran conflict has increased demand for digital assets to preserve and transfer wealth, while Gulf crypto businesses have kept operating through disruption, the Bitcoin Policy Institute says.
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Following a similar lawsuit filed by the Digital Chamber in July, two digital asset advocacy groups challenged Illinois’ 0.2% crypto tax on constitutional and due process grounds.
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