The U.S. Treasury Department has imposed sanctions on four Iranian cryptocurrency exchanges and two senior executives at Nobitex, accusing them of helping sanctioned individuals and organizations access the global digital asset market.
The sanctions target Nobitex, Wallex, Bitpin, and Ramzinex as part of the Treasury’s ongoing “Economic Fury” campaign against Iran. As a result, U.S. individuals and companies are now prohibited from doing business with these exchanges or providing them with services.
Treasury officials claim that Iran has increasingly used cryptocurrencies to bypass international sanctions and move money outside traditional financial channels. They say digital assets have become an important tool for entities seeking to avoid financial restrictions.
Treasury Secretary Scott Bessent said the United States will continue tracking financial activity connected to Iran, whether it takes place through banks or cryptocurrency networks.
Nobitex, Iran’s largest cryptocurrency exchange, was a major focus of the action. According to blockchain analytics firms, the platform handles a large share of Iran’s cryptocurrency trading activity and plays a significant role in the country’s digital asset market.
The Treasury alleges that Nobitex facilitated transactions involving sanctioned entities and organizations. The department also added Nobitex Chief Executive Seyed Ali Khoee and Chairman Amir Hossein Rad to its sanctions list.
Nobitex has rejected claims that it is connected to the Iranian government or military organizations. The company describes itself as a private business and denies having any formal relationship with state institutions.
The latest sanctions come shortly after U.S. officials revealed that nearly $1 billion worth of cryptocurrency linked to Iranian exchanges and wallets has been seized since the start of the current conflict. The Treasury says these actions are part of a broader effort to restrict Iran’s access to international financial networks.
Authorities have also targeted what they describe as shadow banking systems, oil trading networks, and other financial channels that allegedly help generate revenue for Iran despite international sanctions.
The move highlights the growing focus of regulators on cryptocurrency’s role in international sanctions enforcement. Governments are increasingly monitoring digital asset transactions as crypto becomes a larger part of the global financial system.
Treasury officials say sanctions, asset seizures, and wallet restrictions will remain key tools in efforts to disrupt financial networks connected to sanctioned governments, criminal organizations, and other entities viewed as threats to U.S. national security.
The latest measures demonstrate that cryptocurrency platforms are becoming an increasingly important part of global sanctions enforcement as regulators seek to close potential pathways used to move funds outside traditional banking systems.
