US sanctions Iran's largest crypto exchange over alleged IRGC links

The United States has targeted Iran's largest cryptocurrency exchange with sanctions, accusing it of aiding the Islamic Revolutionary Guard Corps (IRGC). The Treasury Department announced the measures against the exchange, identified as No 1 Exchange, and its associated digital currency trading platforms.

According to U.S. officials, the exchange has played a role in processing financial transactions for the IRGC, a designated foreign terrorist organization. These sanctions are part of a broader effort by the U.S. to curb Iran's access to international financial systems and disrupt funding for its military and security apparatus.

The move signifies a continued focus on cryptocurrency as a tool for illicit finance. By sanctioning the exchange, the U.S. aims to increase pressure on Iran's economy and limit the resources available to the IRGC, which is involved in various regional conflicts and security operations.