U.S. Treasury sanctions Iran’s largest crypto exchange Nobitex

The U.S. Treasury has sanctioned four Iranian cryptocurrency exchanges, including Nobitex, and two senior executives under its Economic Fury campaign against Iran. Treasury accuses the platforms of helping sanctioned entities access the digital asset ecosystem. The latest action targets Nobitex, Wallex, Bitpin, and Ramzinex, with U.S. persons and businesses prohibited from providing services to these exchanges. Treasury has seized nearly $1 billion in cryptocurrency from Iranian exchanges and wallets since the conflict began. Nobitex, which handles about 50% of Iran’s crypto trading volume, has been described as a key financial platform serving sanctioned Iranian entities. Treasury has linked the campaign to efforts to stop Iran from advancing its nuclear program and cited cryptocurrency infrastructure as a focus of its enforcement actions against sanctioned governments, terrorist organizations, and criminal networks.