US Unleashes Sanctions on Iranian Regime’s Crypto Network
The Trump administration struck at the heart of the Iranian regime’s illicit financial network on Tuesday, sanctioning two Iranian financiers and over a dozen individuals and front companies in Hong Kong and the United Arab Emirates, according to The Associated Press.
This decisive action targets a sophisticated “shadow banking” operation that allegedly laundered over $100 million in cryptocurrency from the sale of Iranian oil, funneling it directly to Iran’s military and government.
According to the US Treasury, the operation was spearheaded by Iranian nationals Alireza Derakhshan and Arash Estaki Alivand. The pair masterminded the purchase of massive amounts of cryptocurrency, which they then transferred through a web of international front companies to evade international sanctions.
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