US Imposes Sanctions on Iran’s Nobitex Crypto Platform

The U.S. Treasury Department announced sanctions against Nobitex, Iran’s largest cryptocurrency exchange, and its executives, accusing the platform of facilitating transactions for the Islamic Revolutionary Guard Corps (IRGC), ransomware actors, and evading Western sanctions. The sanctions also target three other Iranian exchanges—Wallex, Bitpin and Ramzinex—and several Iranian nationals linked to the digital‑asset sector. According to the Treasury, Nobitex processed more than half of all Iranian crypto inflows, helped the Central Bank of Iran move hundreds of millions of dollars in stablecoins, and enabled regime insiders to access international exchanges. The agency warned that any assets of the designated entities within U.S. jurisdiction are frozen and U.S. persons are prohibited from dealing with them, prompting broader international pressure on entities that might transact with the sanctioned parties. Nobitex denied direct ties to the Iranian government, saying any misuse occurred without management knowledge.