The U.S. Treasury's Office of Foreign Assets Control has expanded sanctions to include Iran's crypto exchange Nobitex and three smaller platforms — Wallex, Bitpin, and Ramzinex. The Treasury alleges Nobitex facilitated 50% of all Iranian crypto inflows in 2025, with funds reportedly tied to the Iranian military and Islamic Revolutionary Guard Corps. The move follows last week's seizure of $1 billion in crypto assets linked to the Iranian government, intensifying financial pressure as crypto becomes a contested tool in West Asia geopolitical tensions.
U.S. Treasury Sanctions Four Iranian Crypto Exchanges and Three Executives
The Office of Foreign Assets Control designated Nobitex, Wallex, Bitpin, and Ramzinex under its expanded sanctions framework. According to the U.S. Treasury, these platforms helped Iran evade previous sanctions. The Central Bank of Iran allegedly used Nobitex to support the Iranian rial. Chairman Amir Hossein Rad, Founder Seyed Mohammad, and CEO Sayed Ali Khoee have been sanctioned.
Treasury Secretary Bessent Links Sanctions to Nuclear Prevention Goal
U.S. Treasury Secretary Scott Bessent stated the administration will follow the money through banks or crypto to prevent the regime from developing a nuclear weapon. Bessent said the regime has chosen to co-opt digital asset technologies for its own corrupt agenda, including evading sanctions and transferring wealth out of the country. He added that Iran's current economic chaos is proof that President Trump's maximum pressure campaign has been a success.
U.S. Seized $1 Billion in Iranian Crypto Assets Last Week
Last week, the U.S. seized $1 billion worth of crypto assets reportedly tied to the Iranian government. The extended sanctions came after Iran floated Bitcoin tolls earlier in the year. It is not clear how the move would impact the elusive peace deal between the two countries or with Israel.
Iran's Embassy in Japan Calls Sanctions Illegal and Inhumane
According to Iran's embassy in Japan, the sanctions are aimed at forcing the Iranian economy to collapse and drive people to revolt against its leadership. The embassy called Bessent's framing skewed and stated that circumventing these unilateral sanctions — which must be bypassed because they are illegal and inhumane — simply makes one corrupt in his skewed logic.
FAQ
What did the U.S. Treasury do to Iran's crypto exchanges?
The U.S. Treasury's Office of Foreign Assets Control expanded sanctions to include Nobitex, Wallex, Bitpin, and Ramzinex. The Treasury alleges Nobitex facilitated 50% of all Iranian crypto inflows in 2025, with funds reportedly tied to the Iranian military and Islamic Revolutionary Guard Corps. Three individuals — Chairman Amir Hossein Rad, Founder Seyed Mohammad, and CEO Sayed Ali Khoee — were sanctioned.
Why did the U.S. Treasury sanction Iranian crypto platforms?
According to the U.S. Treasury, these platforms helped Iran evade previous sanctions. The Central Bank of Iran allegedly used Nobitex to support the Iranian rial. Treasury Secretary Scott Bessent stated the goal is to prevent the regime from developing a nuclear weapon by following the money through banks or crypto.
