The U.S. Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on an individual and two cryptocurrency exchanges it said facilitated the laundering of roughly $5 million in digital assets linked to Iran.
The designated parties have been added to the Specially Designated Nationals (SDN) list, barring U.S. persons from conducting transactions with them and freezing any assets under U.S. jurisdiction.
According to the Treasury, the exchanges processed transactions that helped evade sanctions and fund illicit activities, highlighting concerns that crypto platforms can be exploited for sanction evasion.
The action follows a series of recent measures targeting crypto firms with connections to sanctioned jurisdictions, underscoring heightened enforcement of anti‑money‑laundering (AML) compliance in the digital asset sector.
No further details on the identities of the individual or the exchanges were disclosed; the sanctions took effect immediately.
