US sanctions Iran's largest crypto exchange over terror finance

The United States imposed sanctions on Iran's largest digital asset exchange, Nobitex, and three other Iranian digital asset exchanges as part of efforts to target sanctions evasion and terror financing, the Treasury Department said on Tuesday.

"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," Treasury Secretary Scott Bessent said.

"Iran’s current economic chaos is proof that President Trump’s maximum pressure campaign has been a success," he added.

The Treasury said 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 activity associated with IRGC-affiliated ransomware actors.

The Treasury also sanctioned Amir Hossein Rad, Nobitex’s chairman, co-founder and former CEO, along with several other Nobitex leaders and officials.

The Treasury said it also designated Wallex, Iran’s second-largest digital asset exchange by volume, as well as Bitpin and Ramzinex. It said Wallex received 12% of all Iranian digital asset inflows in 2025, Bitpin received 10%, and Ramzinex had processed more than $2.45 billion in transactions.

Bessent said Treasury would continue to follow the money "whether it is through the banking system or through digital assets" to prevent Iran from developing a nuclear weapon.