U.S. Treasury Sanctions Iran's Nobitex, Citing 2025 Crypto Inflows and IRGC Links

On June 2, the U.S. Treasury sanctioned Nobitex, describing it as Iran's largest cryptocurrency exchange, and also designated several of its senior executives. Officials alleged the platform enabled sanctions evasion and processed transactions tied to the Islamic Revolutionary Guard Corps (IRGC), including activity involving stablecoins. The package also targeted Iranian exchanges Wallex, Bitpin, and Ramzinex, with restrictions blocking U.S.-jurisdiction property and limiting dealings by U.S. persons.