Since 2018, the U.S. Treasury's OFAC has increasingly targeted cryptocurrency addresses and services to combat sanctions evasion, terrorism financing, and illicit activity. This article provides a comprehensive timeline of OFAC's crypto-related sanctions from 2018 to June 2026, covering landmark actions such as the first crypto address designation in the SamSam ransomware case, the 2021 Sanctions Compliance Guidance for the Virtual Currency Industry, and recent 2025-2026 designations against Iranian exchanges (Nobitex, Zedcex), North Korean IT worker networks, Sinaloa Cartel money laundering, and Cambodian scam centers. Key developments include the use of stablecoin freezes (e.g., $344M USDT tied to the Central Bank of Iran), multi-chain tracking across Ethereum, Tron, and Bitcoin, and the increasing focus on crypto-native infrastructure for sanctions evasion. The article also discusses challenges for crypto businesses in screening against OFAC's Specially Designated Nationals (SDN) list, emphasizing the need for robust compliance programs to mitigate legal and reputational risks.

Key facts

• OFAC began designating crypto addresses in 2018, starting with SamSam ransomware Bitcoin wallets.
• 2021 guidance outlines compliance expectations for virtual currency businesses to prevent sanctions evasion.
• Recent actions target Iranian exchanges, North Korean IT workers, and cartel crypto money laundering.
• Stablecoin freezes like the $344M USDT seizure demonstrate public-private enforcement coordination.
• Multi-chain sanctions (Ethereum, Tron, Bitcoin) reflect crypto's growing role in illicit finance.

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