US Treasury Imposes Sanctions on Iranian Crypto Exchanges Including Nobitex

US Treasury Imposes Sanctions on Iranian Crypto Platforms

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has imposed sanctions on four Iranian cryptocurrency exchanges, including Nobitex, the nation's largest digital asset platform. This action is part of the U.S. government's ongoing efforts to combat terrorist financing and sanctions evasion linked to Iran.

Nobitex has been identified as a significant player in Iran's cryptocurrency market, accounting for over 50% of digital asset inflows into the country in 2025. The platform is accused of facilitating transactions that support terrorism and enabling the Islamic Revolutionary Guard Corps (IRGC) to access substantial amounts of stablecoins to stabilize the Iranian rial's declining value.

In addition to Nobitex, the exchanges Wallex, Bitpin, and Ramzinex were also sanctioned. Wallex, the second-largest exchange in terms of trading volume, represented 12% of Iran's crypto inflows, while Bitpin accounted for 10%. Ramzinex, established in 2018, processed over $2.45 billion in transactions.

The sanctions extend to four individuals associated with Nobitex, including its chairman Amir Hossein Rad, who was involved in restoring the exchange after a significant hack. Other co-founders are linked to influential political families within Iran. Current CEO Seyed Ali Khoee has also been designated under the sanctions.

Treasury Secretary Scott Bessent emphasized the department's commitment to tracking financial flows tied to Iran's nuclear ambitions, stating that approximately $1 billion in cryptocurrency has been seized from Iranian exchanges since enforcement actions began. In a previous move, Tether froze $344.2 million in stablecoins linked to the Central Bank of Iran.