US imposes sanctions on Iran’s largest cryptocurrency exchange

The United States has imposed sanctions on Iran’s largest digital asset exchange, Nobitex, along with three other Iranian cryptocurrency platforms, as part of efforts to counter sanctions evasion and the financing of terrorism, the US Treasury Department announced on June 2.

“While Iran’s economy is in free fall, the regime has chosen to co-opt digital asset technologies for its own corrupt agenda, including evading sanctions and transferring wealth out of the country.  Iran’s current economic chaos is proof that President Trump’s maximum pressure campaign has been a success,” Treasury Secretary Scott Bessent said.

“As promised, Treasury will continue to follow the money in support of Economic Fury, whether it is through the banking system or through digital assets, to prevent the regime from developing a nuclear weapon,” he added. 

According to the US Treasury Department, Nobitex accounted for more than 50% of all digital asset inflows into Iran in 2025 and that the exchange facilitated payments linked to Iranian terrorist activity, sanctions evasion efforts, and transactions associated with the Islamic Revolutionary Guard Corps (IRGC), including operations involving IRGC-affiliated ransomware operators.

The department also sanctioned Amir Hossein Rad, the chairman, co-founder, and former CEO of Nobitex, as well as several other company executives and officials.

In addition, sanctions were imposed on Wallex, the second-largest digital asset exchange in Iran by trading volume, as well as Bitpin and Ramzinex. According to the Treasury, Wallex accounted for 12% of Iran’s total crypto inflows in 2025, Bitpin for 10%, while Ramzinex processed transactions worth more than $2.45 billion.

 By Jeyhun Aghazada