US Treasury Sanctions Multiple Iranian Crypto Exchanges

• The Iranian central bank was allegedly able to obtain stablecoins worth hundreds of millions of dollars via the exchange.
• The Treasury’s battle against Iranian crypto assets has reached a new enforcement step with these recent sanctions.

The U.S. Treasury Department’s Office of Foreign Assets Control blacklisted Nobitex and three other Iranian cryptocurrency platforms for allegedly aiding in the funding of terrorism and sanctions evasion. Nobitex is the biggest digital asset exchange in Iran.

According to the Treasury Department, Nobitex handled over half of Iran’s digital asset inflows in 2025 and helped with transactions associated with the Islamic Revolutionary Guard Corps (IRGC), including ransomware actors with ties to the IRGC, as well as payments related to Iran’s terrorist activities and sanctions evasion.

Crackdown on Terror Financing and Sanctions Evasion

The Iranian central bank was allegedly able to obtain stablecoins worth hundreds of millions of dollars via the exchange, which the Treasury said in its sanctions statement and utilized to prop up the value of the Iranian rial as it plummeted. The Treasury’s battle against Iranian crypto assets has reached a new enforcement step with Monday’s penalties.

In 2025, 12% of Iran’s digital asset inflows went to Wallex, the country’s second-largest exchange in terms of volume. Ten percent of these inflows go via Bitpin, which was sanctioned because of investors associated with Iranian sanctions evasion. The digital asset exchange Ramzinex, which was established in 2018 in Tehran, handled transactions totaling more over $2.45 billion.

Amir Hossein Rad, chairman and co-founder of Nobitex, and three others were sanctioned by the Treasury Department for their roles in the company’s recovery from a June 2025 attack that had compromised $90 million. Seyed Mohammad Ali Aghamir and his brother Seyed Mohammad Aghamir Mohammad Ali are both co-founders and descend from the ruling Kharrazi dynasty, who are close associates of Supreme Leader Khamenei. Seyed Ali Khoee, who is now the CEO of Nobitex and was formerly the director of product and marketing, was also named.

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