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3h ago

U.S. Sanctions Nobitex and Three Iranian Crypto Exchanges

Treasury officials say the designations formalize a campaign that uses blockchain forensics and broad executive‑order powers to freeze assets and pressure global counterparties to cut ties.

Signage is seen at the United States Department of the Treasury headquarters in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo
FILE - The Treasury Department building is pictured at dusk in Washington, June 6, 2019. (AP Photo/Patrick Semansky, File)
Treasury Secretary Scott Bessent listens to a reporter's question in the James Brady Press Briefing Room at the White House, Thursday, May 28, 2026, in Washington. (AP Photo/Mark Schiefelbein)
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Overview

  • The Treasury designated Nobitex plus Wallex, Bitpin and Ramzinex on Tuesday, blocking any U.S. property interests they hold and prohibiting U.S. persons from transacting with them.
  • Officials also placed senior Nobitex executives on the Specially Designated Nationals list, including chairman and co‑founder Amir Hossein Rad and co‑founders linked to the Kharrazi family.
  • The department invoked counterterrorism and Iran financial‑sector authorities (E.O. 13224 and E.O. 13902) to crystalize legal power to freeze assets and expose foreign firms to secondary sanctions.
  • Treasury says Nobitex handled more than half of Iran’s digital asset inflows in 2025 and analytics firms estimate billions of dollars flowed through the platform, which U.S. officials tie to IRGC and central‑bank transactions.
  • The move follows a Reuters probe and recent on‑chain freezes that Treasury says recovered roughly $1 billion in Iran‑linked crypto, and it is likely to prompt stablecoin issuers, exchanges and banks to tighten compliance and freeze linked funds.