The U.S. Treasury’s Office of Foreign Assets Control (OFAC), the U.S. sanctions authority, designated Iran’s largest crypto exchange, Nobitex, along with Wallex, Bitpin and Ramzinex on June 2, 2026. OFAC cited alleged support for terrorist financing, links to the Islamic Revolutionary Guard Corps and involvement in illicit financial flows. Nobitex processed more than 50% of Iran’s digital asset inflows in 2025, placing it at the center of the action. OFAC also designated Nobitex executives, including Amir Hossein Rad, and later sanctioned Shelbit Exchange and Aban Tether in August 2026 for connections to the blacklisted platforms. In July, it targeted several crypto wallets linked to Iran, prompting Tether to freeze more than $131 million in Tron addresses associated with them. The measures form part of Treasury’s Operation Economic Outcast and Economic Fury campaigns, which seek to dismantle Iran’s financial infrastructure. U.S. persons are barred from transacting with designated entities, while foreign banks and exchanges face secondary sanctions risk if they facilitate such transactions. Bitbank, a Japan-based digital asset exchange, was not included on any U.S. sanctions list and has publicly maintained compliance with OFAC regulations. Users of the designated platforms face frozen funds and no clear recovery path within a U.S.-aligned financial system, while the Tether freeze could disrupt liquidity in the networks where the funds were active.