U.S. Department of the Treasury is a state-owned entity headquartered in the US, founded in 1789 and employing approximately 11,480 individuals. The department specializes in government administration.
US Treasury Secretary Scott Bessent in late August declared an "economic D-Day" against Iran, describing it as "the single greatest financial offensive ever marshaled against an adversary," a campaign whose ultimate success relies on China. Earlier on September 18, it was reported that in June, Bessent told Japanese finance minister Satsuki Katayama that Tokyo needed to "get its fiscal house in order" when she requested assistance to support the cratering yen. On September 17, Bessent stated that new sanctions against a Bitcoin exchange linked to Iranian financier Babak Zanjani underscore that crypto-based financing for the Iranian regime is "not beyond OFAC’s reach." Also on September 17, FinCEN reported $12.7 billion in suspected crypto investment scam losses since 2023, primarily from Southeast Asian crime centers, leading the Treasury to encourage banks to submit more detailed suspicious activity reports. This follows the Department of the Treasury and the Internal Revenue Service publishing proposed regulations (REG-117273-25) on September 10, 2026, regarding the allocation and apportionment of deductions.
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