U.S. Attorney Seeks Forfeiture Of $61 Million In Cryptocurrency From The Iranian Military’s Black-Market Oil Sales
CRYPTD interpretation — regulatory information, not legal advice
The DOJ filed a civil complaint seeking forfeiture of approximately $61 million in cryptocurrency allegedly linked to black-market sales of sanctioned Iranian oil and petroleum products.
What changes
The government is seeking to seize cryptocurrency alleged to be proceeds intended to finance Iran’s government and military components.
Who it affects
This affects parties handling cryptocurrency proceeds connected to sanctioned Iranian oil sales.
Practical implications
- Crypto market participants may need to screen transactions for links to sanctioned Iranian oil proceeds.
U.S. Department of Justice
Deputy United States Attorney for the Southern District of New York, Sean S. Buckley, and Assistant Director in Charge of the New York Field Office of the FBI, James C. Barnacle, Jr., announced the filing of a civil forfeiture Complaint against approximately $61 million in cryptocurrency as the proceeds of black-market sales of sanctioned Iranian crude oil and petroleum products, intended to finance the Government of Iran and Iranian military components, including Iran’s Islamic Revolutionary Guard Corps (“IRGC”), a designated terrorist organization.
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