TLDRThe U.S. Treasury sanctioned Nobitex, which it described as Iran’s largest digital asset exchange.According to the Treasury, Nobitex handled more than half of Iranian digital asset inflows in 2025.OFAC alleged that Nobitex supported sanctions evasion, stablecoin transfers, and IRGC-linked crypto transactions.Treasury also designated Amir Hossein Rad and other Nobitex leaders in the sanctions action.The action forms part of the Economic Fury campaign targeting Iran-linked financial and digital asset networks.The U.S. Treasury moved against Iran’s largest digital asset exchange, Nobitex, in a new sanctions action on Tuesday. The action targets alleged terror finance, sanctions evasion, and regime-linked crypto flows.Treasury Targets Nobitex and Iranian Crypto ExchangesAccording to the Department of the Treasury, OFAC designated Nobitex under counterterrorism and Iran financial-sector authorities. The release also named three other Iranian digital asset exchanges in the action. Treasury described Nobitex as Iran’s largest digital asset exchange. It also alleged that the platform handled more than half of Iranian digital asset inflows in 2025.According to the release, Nobitex supported payments tied to Iran’s sanctioned activities and IRGC-linked transactions. Treasury also linked some activity to wallets associated with IRGC-affiliated ransomware actors.The department also designated Amir Hossein Rad, Nobitex’s chairman, co-founder, and former chief executive. Treasury stated that other Nobitex leaders and officials also faced sanctions. Treasury Secretary Scott Bessent connected the action to the Trump administration’s Iran policy. “Treasury will continue to follow the money,” Bessent stated in the release.OFAC Alleges Stablecoin Use and Sanctions EvasionAccording to the Treasury, Nobitex helped the Central Bank of Iran access hundreds of millions of dollars in stablecoins. The department alleged those funds supported efforts tied to the falling value of the Iranian rial. The release also claimed that Nobitex helped regime insiders reach international digital asset exchanges. Treasury framed that activity as part of sanctions evasion across several jurisdictions.According to OFAC, Nobitex acted as a vehicle for sanctions evasion through its earlier Central Bank links. The department also alleged that the platform contributed to repression inside Iran. Treasury claimed the exchange enabled the Iranian government to conduct warrantless surveillance of civilians.Additionally, the release stated that two Nobitex co-founders had close links to Khamenei’s family. The department cited Executive Order 13224, as amended, in its Nobitex designation. It also cited Executive Order 13902, which covers Iran’s financial sector.Economic Fury Expands Pressure on IranThe sanctions form part of the Economic Fury and maximum pressure policy. The department stated that the campaign targets Iran’s ability to generate, move, and repatriate funds. Treasury reported that its actions have blocked access to tens of billions of dollars for Iran-linked networks. It also referenced actions that froze nearly half a billion dollars in regime-linked cryptocurrency.The release stated that Treasury has targeted shadow banking networks, oil channels, military supply networks, and proxy groups. It also warned foreign companies against supporting illicit Iranian commerce. The administration now targets both traditional sanctions evasion and digital asset exploitation. The department also raised the possibility of secondary sanctions on foreign financial institutions.Treasury also warned about payments tied to passage through the Strait of Hormuz. It listed fiat currency, digital assets, offsets, swaps, and in-kind payments among possible sanctions risks. On May 27, the Treasury designated Iran’s so-called Persian Gulf Strait Authority. The department described it as an IRGC-linked scheme tied to shipping through the Strait of Hormuz.The release also stated that Nobitex played a role after U.S. combat operations in Iran began. Treasury alleged that the platform helped protect and move assets despite internet blackouts. According to OFAC, the action targets persons who materially assisted or supported the IRGC. The department also stated that Nobitex operated in Iran’s financial sector.The post U.S. Treasury Sanctions Iran’s Nobitex Over Alleged Crypto Finance Links appeared first on Blockonomi.