Key insights
- The US Treasury has sanctioned Iran's largest crypto exchange, Nobitex, and three other platforms for facilitating illicit financial activities, including supporting the IRGC and evading sanctions. This action, part of the 'Economic Fury' campaign, targets Iran's ability to access global digital asset markets and fund its operations. While the direct impact on US equities may be limited, it signals increased regulatory scrutiny on crypto and potential geopolitical risks, which could indirectly affect market sentiment and risk appetite.
Investing.com -- The U.S. Treasury Department sanctioned Nobitex, Iran’s largest digital asset exchange, along with three other Iranian crypto platforms on Tuesday as part of the Trump Administration’s Economic Fury campaign.
The Office of Foreign Assets Control designated Nobitex for processing more than 50 percent of all Iranian digital asset inflows in 2025 and facilitating payments tied to Iran’s terrorist activities and sanctions evasion efforts. The exchange handled transactions linked to the Islamic Revolutionary Guard Corps, including activity connected to IRGC-affiliated ransomware actors.
Nobitex helped Iran’s Central Bank access hundreds of millions of dollars in stablecoins to support the Iranian rial. The platform enabled regime insiders to access international digital asset exchanges and evade sanctions across multiple jurisdictions. After U.S. combat operations began in Iran, Nobitex assisted in moving assets and funds out of the country despite internet blackouts.
The Treasury also designated Amir Hossein Rad, Nobitex’s chairman, co-founder, and former CEO, along with other company leaders. Rad helped reconstitute Nobitex operations following a $90 million hack on June 18, 2025.
Two Nobitex co-founders, Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali, are members of the Kharrazi family, part of former Supreme Leader Ayatollah Ali Khamenei’s inner circle. The Treasury designated current CEO Seyed Ali Khoee as well.
Three additional exchanges received sanctions. Wallex, Iran’s second-largest digital asset exchange, received 12 percent of all Iranian digital asset inflows in 2025. Bitpin received 10 percent of Iranian inflows and processed millions of dollars in transactions, including those linked to the IRGC. Ramzinex, founded in 2018, processed over $2.45 billion in transactions.
The State Department’s Rewards for Justice program is offering up to $15 million for information leading to the disruption of the IRGC’s financial mechanisms.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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