The U.S. Treasury Department has sanctioned four Iranian cryptocurrency exchanges and numerous executives, accusing them of helping to evade sanctions.

June 3 — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced it has designated Iran’s largest cryptocurrency exchange, Nobitex, plus three other Iranian crypto platforms — Wallex, Bitpin, and Ramzinex — to its sanctions list. The action also targets Nobitex’s chairman and co-founder Amir Hossein Rad, current CEO Seyed Ali Khoee, and multiple other co-founders and senior executives of the exchange. U.S. Treasury officials allege Nobitex processed more than 50% of Iran’s total cryptocurrency inflows in 2025. The exchange is accused of facilitating transactions linked to the Islamic Revolutionary Guard Corps (IRGC), ransomware groups, and sanctions evasion. Additional claims state Nobitex aided the Central Bank of Iran in accessing hundreds of millions of dollars in stablecoin funds, and helped transfer and safeguard Iranian regime assets in the wake of U.S. military actions against Iran. The Treasury also noted Iran’s second-largest crypto exchange, Wallex, along with Bitpin and Ramzinex, have ties to IRGC-associated transactions. In 2025, Wallex accounted for roughly 12% of Iran’s crypto inflows, while Bitpin made up about 10%. Founded in 2018, Ramzinex has processed more than $24.5 billion in total transactions to date. The sanctions are part of the Trump administration’s "Economic Fury" strategy, designed to exert maximum pressure on Iran. U.S. Treasury officials said they will continue combating Iran’s misuse of digital assets for terrorist financing and sanctions evasion, and reserve the right to impose secondary sanctions on foreign financial institutions and companies that support Iran’s illicit trade activities.