The U.S. Treasury Department has sanctioned four Iranian cryptocurrency exchanges and numerous executives, accusing them of helping to evade sanctions.

BlockBeats News, June 3rd, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced that it has designated Iran's largest cryptocurrency exchange, Nobitex, as well as three Iranian crypto exchanges, Wallex, Bitpin, and Ramzinex, to the sanctions list. OFAC also imposed sanctions on Nobitex's Chairman and Co-Founder, Amir Hossein Rad, current CEO Seyed Ali Khoee, and several other co-founders and executives.

The U.S. Treasury Department alleges that in 2025, Nobitex processed over 50% of Iran's cryptocurrency asset inflows, supported transactions related to the Islamic Revolutionary Guard Corps (IRGC), ransomware groups, and sanction evasion activities. Nobitex also reportedly assisted the Central Bank of Iran in accessing hundreds of millions of dollars in stablecoin funds. The U.S. authorities stated that after U.S. military actions against Iran, Nobitex helped transfer and safeguard Iranian regime assets.

Furthermore, the Treasury Department mentioned that Iran's second-largest crypto exchange, Wallex, as well as Bitpin and Ramzinex, were found to have links to transactions associated with the Islamic Revolutionary Guard. Wallex received around 12% of Iran's crypto asset inflows in 2025, Bitpin accounted for approximately 10%, and Ramzinex, established in 2018, has processed over $24.5 billion in transactions to date.

This move is part of the Trump administration's "Economic Fury" strategy to exert maximum pressure on Iran. The U.S. Treasury Department stated that it will continue to combat Iran's abuse of digital assets for terrorist financing and sanctions evasion and retains the authority to impose secondary sanctions on foreign financial institutions and companies that assist Iran's illicit trade.