U.S. · U.S. Treasury · Iran · Decrypt
US Treasury Sanctions Iranian Crypto Exchanges Including Nobitex for Terrorist Financing
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The U.S. Treasury Department's Office of Foreign Assets Control designated Nobitex, Iran's largest digital asset exchange, along with three other Iranian cryptocurrency platforms for allegedly facilitating terrorist financing and sanctions evasion.
Key facts
- The Treasury Department also sanctioned four individuals connected to Nobitex, including chairman and co-founder Amir Hossein Rad, who helped reconstitute operations following a $90 million hack
- The Treasury Department alleges Nobitex processed more than 50% of all Iranian digital asset inflows in 2025 and facilitated payments tied to Iran's terrorist activities, sanctions evasion efforts
- Ramzinex, a Tehran-based digital asset exchange founded in 2018, processed over $2.45 billion in transactions
- Wallex, Iran's second-largest digital asset exchange by volume, received 12% of Iranian digital asset inflows in 2025
Summary
The U.S. Treasury Department's Office of Foreign Assets Control designated four Iranian cryptocurrency exchanges for sanctions violations. Nobitex, Iran's largest digital asset exchange, was among the sanctioned platforms alongside Wallex, Bitpin, and Ramzinex. The Treasury alleged that the platforms facilitated terrorist financing, sanctions evasion, and ransomware payments. The Treasury Department alleges Nobitex processed more than 50% of all Iranian digital asset inflows in 2025 and facilitated payments tied to Iran's terrorist activities, sanctions evasion efforts, and Islamic Revolutionary Guard Corps-linked transactions, including IRGC-affiliated ransomware actors.