U.S. Treasury Department imposed sanctions on the largest Iranian cryptocurrency exchange

The U.S. Treasury Department has imposed sanctions on Nobitex, Iran's largest cryptocurrency exchange.

The ministry's press release was published on the department's website.

They stated that in 2025, Nobitex processed more than 50% of all Iranian cryptocurrency, despite the imposed sanctions. In addition, the exchange is accused of helping Iran's Central Bank gain access to hundreds of millions of dollars in stablecoins used to support the Iranian rial's exchange rate. "Following the start of U.S. military operations in Iran, Nobitex played a role in protecting and moving assets and funds out of Iran to safeguard the regime's wealth, despite internet shutdowns," the statement said.

In addition to Nobitex itself, sanctions were imposed on the chairman of the board of directors, co-founder and former CEO of the exchange Amir Hossei Rad, as well as other executives and officials of the platform.

Nobitex was founded in 2018 by one of Iran's most influential families, the Kharrazi family, which is close to the Khamenei clan, Reuters reported. The agency claimed it was used by Iran's Islamic Revolutionary Guard Corps (IRGC) to circumvent sanctions and transfer millions of dollars.

Other Iranian cryptocurrency exchanges also made the sanctions list: Wallex, Bitpin, and Ramzinex.

The ministry explains that all property and interests of sanctioned persons are blocked and must be reported to the ministry. Any entities that are 50% or more owned by one or more sanctioned persons are also blocked, unless authorized by the Office of Foreign Assets Control.

"Violations of U.S. sanctions may result in civil or criminal liability for U.S. persons and nationals of other countries," the department noted.