The countries targeted by the American government’s sanctions increased in illicit cryptographic activity, receiving nearly $ 16 billion in digital assets last year – approximately 39% of illegal tokens transactions – according to a Chainalysy report published on Wednesday.
2024 was a year in which these nations – in particular Iran – noted individuals in the activity linked to sanctions, noted the report of the Crypto -analytical society.
“While Western restrictions are tightening, sanctioned nations are turning to cryptocurrencies and alternative financial systems to support trade and access capital,” according to the report, which cited Russian and Iranian financial transactions with partners Commercial such as China and India, using payment mechanisms that do not “I will count on US dollars.
“Although the use of cryptocurrencies in sanctioned jurisdictions can be associated with illicit finances controlled by the State, it also represents a significant rescue for ordinary citizens confronted with economic difficulties under restrictive regimes” , indicates the report.
The control of foreign assets of the American Treasury, or OFAC, is the government branch which establishes sanctions, and last year it published 13 which included cryptographic addresses. It was down compared to the previous year, but still high. Now that President Donald Trump has resumed executive power and has installed Scott Bessent at the top of the treasury, the pro-Crypto administration can adopt a different approach to digital assets.
The cryptocurrency platform of the tornado platform had been targeted by the American authorities in 2023, but the popular service was still able to manage hundreds of millions of dollars in cryptographic transactions per month in 2024, according to the report, although he did not return to his level of pre-sanction.
These services are criticized for their use in the laundering of stolen funds or in elected sanctions, and they are difficult to close because they work via smart contracts on a decentralized blockchain. Users pushing stolen funds represented an increase in the use of Tornado Cash in 2024, more than 24% of its total entries, according to Chainalysis.
The species in cash has come to represent the legal control of the industry with the American government about the anonymity of users and if the developers should be responsible for what they create, and a Federal American Court of Appeal rejected Original sanctions in November.
The analysis chain has devoted particular attention to Iran in its latest report.
“The Iranian government maintains in-depth control over the country’s financial system, including cryptocurrency infrastructure,” noted the document. “For many Iranians, cryptocurrency represents an alternative financial system, and the growing use of Iranian cryptography exchanges suggests that more people and institutions use crypto to protect wealth and get around financial restrictions.”
Read more: Warren from the American Senate warns the heads of national security on the Iranian cryptography mine
