Iran’s 2026 FIFA World Cup campaign opened with a 2-2 draw against New Zealand on June 15 in Los Angeles. The scoreline was the least interesting thing about the match.
Before a crowd exceeding 70,000, the political fault lines of the Iranian diaspora were on full display. Some spectators waved pre-revolutionary Lion and Sun flags. Others booed the national anthem. A contingent reportedly cheered when New Zealand scored.
The crypto angle hiding in plain sight
Two weeks before kickoff, on June 2, the US Treasury sanctioned Nobitex, Iran’s largest cryptocurrency exchange. The allegation: facilitating financing for the Islamic Revolutionary Guard Corps through crypto channels.
The action wasn’t isolated. OFAC and FinCEN have executed multiple enforcement actions against Iranian crypto networks throughout 2026, part of an escalating campaign to close the gaps that digital currencies create in the sanctions regime.
