The US Treasury has sanctioned two UK-registered crypto exchanges tied to Iran’s financial system, marking the first time Washington has targeted digital asset platforms. The United States Treasury has sanctioned two cryptocurrency exchanges linked to Iran’s financial system, marking the first time Washington has directly targeted digital asset platforms as part of its Iran sanctions program. In a statement on Friday, the Treasury Department’s Office of Foreign Assets Control (OFAC) said the sanctions are part of a wider move against Iranian officials and networks accused of violently suppressing people at home while using alternative financial channels to get around international sanctions. Among those sanctioned was Eskandar Momeni Kalagari, Iran’s minister of the interior, who oversees the country’s Law Enforcement Forces. “Treasury will continue to target Iranian networks and corrupt elites that enrich themselves at the expense of the Iranian people,” Treasury Secretary Scott Bessent said. Read more
Ripple co-founder Chris Larsen and venture capitalist Tim Draper are backing Grow California, a new political effort aimed at countering union-backed wealth tax proposals. Two high-profile crypto figures are preparing to pour tens of millions of dollars into California politics, aiming to reshape the state Legislature by backing moderate, business-friendly candidates and countering the influence of labor unions. The effort, operating under the banner of Grow California, is backed by Chris Larsen, a longtime Democratic donor and co-founder of Ripple, and Tim Draper, a venture capitalist known for his support of Bitcoin (BTC), according to The New York Times. “The government unions do a great job,” Larsen reportedly told the outlet. “But that’s going to clash with a lot of the things that are going to make California successful if there’s no counterforce,” he added. Read more