The U.S. Treasury Department imposed sanctions on Nobitex, Iran’s largest cryptocurrency exchange, accusing it of playing a central role in processing digital transactions for the Islamic Revolutionary Guard Corps (IRGC) and Iran’s central bank. The Treasury claims Nobitex helped the Iranian regime move assets abroad during heightened conflict and internet blackouts, aiming to shield regime wealth amid escalating U.S.-Iran tensions.
Alongside Nobitex, sanctions were announced against three other digital currency platforms and three individuals identified as executives or controllers of the exchange. The Treasury highlights that Nobitex provided “significant support” to Tehran by facilitating asset transfers that violate U.S. sanctions, part of a broader campaign known internally as “Economic Fury.” This measure prohibits U.S. persons and institutions from engaging with Nobitex or its leadership, while foreign entities assisting the exchange risk facing secondary sanctions.
Nobitex has publicly denied any direct relationship with the Iranian government or knowingly supporting state activities. The company stated that any illicit transactions would have occurred without its management’s knowledge or consent. It also rejected claims that the two controlling brothers used alternate identities. Despite these denials, the Treasury’s statement underlines the exchange’s key role in helping Tehran circumvent international financial restrictions, particularly during times of intensified military engagement and government-imposed internet outages.
These sanctions form part of the Trump administration’s strategic pressure against Iran, targeting financial channels used by sanctioned entities such as the IRGC. The Treasury’s actions reflect ongoing efforts to disrupt Iran’s ability to finance activities deemed a threat to U.S. interests and global security through emerging digital finance technologies.