US Treasury Blacklists Iran's Top Crypto Exchanges
The Office of Foreign Assets Control (OFAC) designated Nobitex — Iran's dominant exchange — along with Wallex, Bitpin, and Ramzinex, citing their operation within Iran's sanctioned financial sector.
"Treasury will continue to follow the money in support of Economic Fury, whether it is through the banking system or through digital assets," said Treasury Secretary Scott Bessent.
Nobitex alone reportedly processed over 50% of all Iranian digital asset inflows in 2025. Authorities accused the platform of channeling payments toward "terrorist activities" and facilitating transactions connected to Iran's Islamic Revolutionary Guard Corps (IRGC). The exchange allegedly enabled the Central Bank of Iran to access hundreds of millions of dollars in stablecoins to prop up the country's collapsing national currency.
Targeting Leadership and Insiders
The designations reach deep into Nobitex's executive ranks, ensnaring chairman and co-founder Amir Hossein Rad, sitting CEO Seyed Ali Khoee, co-founder Ali Aghamir, and co-founder and blockchain lead Mohammad Aghamir.
The State Department charged that even as Iran's economy enters "free fall," these platforms provided regime-connected insiders the means to "shield" and "move wealth across borders" — circumventing internet blackouts and persisting throughout active US strikes on the country.
Under the sanctions, all assets and interests held by the designated entities within US jurisdiction or under the control of US persons are immediately frozen.
Washington has maintained sanctions on Tehran since the 1979 Iranian Revolution. Tuesday's actions represent the latest escalation amid the ongoing US-Israeli military campaign against Iran, which launched February 28 and currently operates under a ceasefire marked by intermittent hostilities.
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