Key highlights:

  • The United States has tightened Iran’s economic sanctions, extending the reach to digital assets
  • Authorities have seized cryptocurrencies in 30 wallet addresses affiliated with the Iranian regime under Operation Economic Outcast
  • Bitcoin price has topped $80K, but concerns that renewed hostilities could mute the asset’s rally remain

US Treasury Secretary Scott Bessent has placed digital assets directly in the crosshairs of Washington’s latest crackdown against Iran. The move expands the reach of Trump’s administration’s new Operation Economic Outcast into the crypto sector as Washington seeks to cut off Tehran’s remaining revenue sources.

Treasury expands sanctions pressure to cryptocurrencies

The US Treasury launched Operation Economic Outcast on August 24, describing it as a broad campaign against Iran and entities that enable its economic activities. The operation imposed sanctions on nearly 60 Iran-linked individuals, entities, and vessels while establishing new secondary-sanctions exposure.

"Today, we are launching an economic onslaught against Iran’s financial connections around the globe,” Bessent said. “Our goal is to sever every economic lifeline that sustains this tyrannical regime.”

According to Bessent, secondary-sanctions exposure will extend to digital assets, gold, technology, aviation, and shipping. Treasury’s action targets the broader digital asset ecosystem rather than Bitcoin itself, putting exchanges, brokers, and wallet operators under greater scrutiny.

However, Bitcoin has become part of the enforcement picture because Iranian-linked networks have used it to move and obscure funds. According to blockchain intelligence firm TRM Labs, the latest treasury action included 30 crypto addresses across Bitcoin, Ethereum, and TRON connected to members of Iran’s Mabna Institute.

Source: TRM Labs

The latest crackdown builds on previous US actions against Iran-linked digital assets. In September 2025, the Justice Department moved to seize $584,741 in USDT allegedly controlled by Iranian national Mohammad Abedini, whose company supplied navigation tech to Iran’s IRGC drone program. 

Iran vows retaliation for Operation Economic Outcast as Bitcoin tops $80K

The Iranian government has promised to retaliate against new sweeping economic sanctions announced by the US Treasury. Iran’s Economy Minister Ali Madanizadeh, in a broadcast, hinted at possible military attacks and a reduction in oil exports from the Gulf in response to new US economic measures against the regime.

“We are fully prepared for the US sanctions,” said Madanizadeh. “Naturally, the enemies intend to launch an economic terrorist attack on us, but we also have our own tools and know how to play the game.”

The sanctions come amid rising digital asset prices, with Bitcoin recording its largest weekly gain since 2023. Ethereum's price is hurtling toward the $2,500 mark while other altcoins are recording impressive gains over the last week.

However, heightened conflict in the Gulf has impacted crypto prices, smothering chances of a sustained rally. On the flip side, peace talks and falling oil prices have often provided the conditions for a broader cryptocurrency rally.