Chainalysis report states that in 2024, expanded US sanctions targeted the financial infrastructure of illicit activity, pushing sanctioned nations to increasingly rely on cryptocurrency to preserve wealth, sustain trade and bypass government controls

Quotes that support claims

Many individuals and businesses in these regions turn to cryptocurrency to preserve wealth, move funds across borders, and circumvent government-imposed financial controls — an adaptation we have identified in Iran

In 2024, OFAC’s crypto-related sanctions moved beyond individuals and small groups to target the financial infrastructure supporting illicit activity

As Western restrictions tighten, sanctioned nations are turning to cryptocurrencies and alternative financial systems to sustain trade and access capital," according to the report

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