The U.S. Department of the Treasury is investigating whether cryptocurrency trading platforms and related infrastructure are being used to help Iran evade sanctions. Law enforcement has shifted focus from individual wallets to "service layer" systems such as exchanges, stablecoin channels, and liquidity hubs. As Iran's annual cryptocurrency trading volume is estimated to reach $8 billion to $10 billion, the U.S. has for the first time imposed sanctions on crypto exchanges operating within Iran's financial system, and the Office of Foreign Assets Control (OFAC) has added these platforms to the sanctions list. Regulators believe that the key to combating sanctions evasion lies in cutting off liquidity and funding channels, rather than targeting individual addresses. (CoinDesk)