U.S. Treasury sanctions Iran crypto exchanges in wider financial pressure campaign

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U.S. sanctions Iran crypto exchanges

Highlights

Nobitex, Iran’s largest digital asset exchange, along with Wallex, Bitpin, and Ramzinex, are sanctioned by OFAC for facilitating transactions linked to the IRGC and sanctions evasion.
Treasury states Nobitex handles over 50 percent of Iranian digital asset inflows in 2025, Wallex 12 percent, Bitpin 10 percent, and Ramzinex processed over $2.45 billion since 2018.
The new sanctions, part of the Economic Fury campaign, block all U.S.-controlled property of designated entities and reinforce U.S. scrutiny on digital asset platforms tied to Iranian illicit financial activity.

OFAC action targets exchanges and executives

As reported by the U.S. Department of the Treasury, the Office of Foreign Assets Control is designating Nobitex, described as Iran’s largest digital asset exchange, along with Wallex, Bitpin and Ramzinex under authorities tied to counterterrorism and Iran’s financial sector. Treasury also designates Amir Hossein Rad, Nobitex’s chairman, co-founder and former chief executive, as well as other company leaders and officials.

Treasury says Nobitex processes more than 50 percent of all Iranian digital asset inflows in 2025 and facilitates transactions linked to the Islamic Revolutionary Guard Corps, sanctions evasion efforts and ransomware actors affiliated with the IRGC. The department also says the exchange helps the Central Bank of Iran access stablecoins and allows regime insiders to move wealth through international crypto platforms across multiple jurisdictions.

The statement says Wallex receives 12 percent of Iranian digital asset inflows in 2025, while Bitpin accounts for 10 percent and Ramzinex has processed more than $2.45 billion in transactions since its founding in 2018. U.S. officials say the three exchanges operate in Iran’s financial sector and have handled transactions linked to the IRGC or other government-backed entities.

Broader pressure on Iran’s financial channels

Treasury presents the designations as part of its wider Economic Fury campaign and says it is using sanctions to disrupt Tehran’s ability to generate, move and repatriate funds. Secretary of the Treasury Scott Bessent says the department will continue to follow money flows through both the banking system and digital assets as the administration maintains maximum pressure on Iran.

The action means all property and interests in property of the designated persons that are in the United States or under the control of U.S. persons are blocked and must be reported to OFAC. Treasury says entities owned 50 percent or more by blocked persons are also blocked, and violations can lead to civil or criminal penalties for U.S. and foreign persons.

The move adds to recent U.S. measures aimed at Iran’s oil trade, shadow banking networks and shipping-related revenue channels, including a May 27, 2026 designation tied to the Strait of Hormuz. For crypto markets and compliance teams, the latest step signals continued scrutiny of digital asset exchanges, intermediaries and foreign financial institutions that authorities believe support illicit Iranian commerce.

In our earlier coverage of Washington’s intensifying scrutiny of the Iran conflict, we highlighted testimony indicating the U.S. was still communicating with Tehran through intermediaries and that Iran could soon re-engage on nuclear-related talks it had previously rejected. The same discussion underscored the administration’s broader pressure campaign and the strategic importance of the Strait of Hormuz, while lawmakers pressed for clarity on war aims and the economic fallout.

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