Treasury Targets Crypto Exchanges Accused of Laundering Millions for Iran

U.S. Treasury sanctions on crypto exchanges accused of laundering millions for Iran signal tighter enforcement around illicit finance and sanctions compliance. The action raises counterparty and operational risk for venues with weaker controls, potentially increasing de-risking by market makers and custodians. In the near term this can pressure broader crypto risk sentiment, widen spreads, and heighten scrutiny of exchange flows and stablecoin on/off-ramps.