Washington Just Took Aim at Iran’s Crypto Giant

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The U.S. Treasury has sanctioned Nobitex, Iran’s largest cryptocurrency exchange and accused it of helping the Iranian government evade sanctions and facilitate transactions linked to the Islamic Revolutionary Guard Corps (IRGC). The action forms part of the Trump administration’s “Economic Fury” campaign, which aims to increase financial pressure on Tehran through both traditional banking channels and digital assets. Treasury officials also sanctioned several Nobitex executives and three additional Iranian crypto exchanges.

Treasury Targets Nobitex and Senior Executives

According to the Treasury Department’s press release on June 2, Nobitex processed more than half of all Iranian digital asset inflows during 2025 and played a significant role in helping regime-linked entities access international financial networks.

Treasury alleged that the exchange facilitated transactions connected to the IRGC, including wallets tied to ransomware operators affiliated with the organization. Officials also claimed Nobitex helped the Central Bank of Iran access hundreds of millions of dollars in stablecoins and enabled sanctions evasion across multiple jurisdictions.

As part of the sanctions package, the U.S. designated Nobitex chairman and co-founder Amir Hossein Rad, current CEO Seyed Ali Khoee, and co-founders Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali.

Treasury Secretary Scott Bessent said the Iranian government has increasingly relied on digital assets to bypass economic restrictions and move wealth outside the country.

“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.”

The sanctions were issued under counterterrorism authorities and Executive Order 13902, which targets entities operating within Iran’s financial sector. As Bessent added:

“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.” 

In addition to Nobitex, the Treasury Department sanctioned Iranian exchanges Wallex, Bitpin, and Ramzinex, alleging they processed transactions linked to the IRGC and wider sanctions-evasion activities.

Economic Fury Expands to Crypto Infrastructure

The move marks one of the most significant U.S. actions against Iran’s crypto sector to date.

Treasury officials said digital assets have become an increasingly important tool for Iranian entities seeking access to international markets despite financial restrictions. According to the department, Nobitex alone accounted for more than 50% of Iranian crypto inflows this year.

“Nobitex has provided significant support to the regime, processing more than 50 percent of all Iranian digital asset inflows in 2025 and facilitating payments tied to Iran’s terrorist activities, sanctions evasion efforts, and Islamic Revolutionary Guard Corps (IRGC)-linked transactions, including activity associated with IRGC-affiliated ransomware actors.”

The action also follows previous U.S. efforts targeting Iran’s oil exports, shadow banking networks, shipping operations, and other financial channels. Treasury stated that it has already disrupted tens of billions of dollars in revenue linked to the Iranian regime and frozen hundreds of millions of dollars in crypto tied to sanctioned entities.

Under the sanctions, all property and interests connected to the designated individuals and entities that fall under U.S. jurisdiction are blocked. The sanctions also generally prohibit U.S. persons from conducting transactions involving sanctioned parties, and foreign firms and financial institutions may also face secondary sanctions if they facilitate prohibited activities.

The latest measures underscore how digital asset infrastructure has become an increasingly important battleground in global sanctions enforcement, with governments paying closer attention to the role crypto platforms can play in cross-border finance and sanctions evasion.

The post Washington Just Took Aim at Iran’s Crypto Giant appeared first on TechGaged.com.