U.S. Sanctions Iran’s Largest Crypto Exchange Over Sanctions Evasion Claims

Email:online@newsofbahrain.com

Washington DC: The United States has imposed sanctions on Iran’s largest cryptocurrency exchange, Nobitex, accusing it of helping the Iranian government and sanctioned institutions bypass Western financial restrictions.

The U.S. Treasury said the exchange facilitated transactions linked to Iran’s central bank and the Islamic Revolutionary Guard Corps (IRGC), and played a role in moving assets despite sanctions and internet disruptions.

The sanctions also target Nobitex’s chief executive and two individuals identified by U.S. authorities as key figures connected to the platform.

U.S. officials said the move is part of broader efforts to curb Iran’s ability to use digital assets to evade sanctions and access the global financial system.

Nobitex has previously denied having ties to the Iranian government or knowingly facilitating illicit transactions, saying it has long prepared for the possibility of international sanctions.