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United States Imposes Sanctions on Nobitex, Iran’s Largest Crypto Exchange

United States Imposes Sanctions on Nobitex, Iran’s Largest Crypto Exchange

According to the U.S. Treasury, the latest sanctions action targets Nobitex, three other Iranian crypto exchanges, and senior executives over alleged sanctions evasion and access to the digital asset ecosystem.

Fact Check
The claim is corroborated by multiple breaking-news sources dated June 2, 2026, including the Iran International English post quoting Treasury Secretary Scott Bessent and naming Treasury/OFAC as the designating authority, along with Bitcoin Magazine and First Squawk newswire reports. The designation also reportedly covers three additional Iranian exchanges (Wallex, Bitpin, Ramzinex) plus Nobitex officials including chairman Amir Hossein Rad. Background reporting from Cointelegraph (May 9, 2026) confirms Nobitex's status as Iran's largest crypto exchange and documents the longstanding evidence base (sanctions evasion, IRGC and Central Bank of Iran links) that underpins the new designation.
Summary

According to the U.S. Treasury, OFAC sanctioned Nobitex, described as Iran’s largest crypto exchange, along with Wallex, Bitpin, and Ramzinex, accusing them of helping sanctioned Iranian entities access the digital asset ecosystem and evade Western restrictions. The latest report says the action also targets two senior executives at Nobitex, while earlier reporting said sanctions also covered the exchange’s chairman, CEO, and two co-founders, leaving some leadership details unresolved across reports. Treasury has said Nobitex provided significant support to the Iranian government, processed transactions linked to the Islamic Revolutionary Guard Corps and Iran’s central bank, and helped move assets out of the country during internet blackouts. Nobitex previously told Reuters it had no direct government ties and did not knowingly assist the Iranian state. The sanctions block U.S. persons and entities from transacting with the designated parties and expose foreign institutions dealing with them to potential secondary sanctions.

Terms & Concepts
  • OFAC: The Office of Foreign Assets Control is the U.S. Treasury office that administers and enforces economic and trade sanctions.
  • Secondary sanctions: Penalties that can target non-U.S. persons or companies for doing business with sanctioned entities, extending the reach of U.S. sanctions.
  • Cryptocurrency exchange: A platform where users buy, sell, and transfer digital assets such as Bitcoin and other tokens.