US Treasury Expands Economic Fury Sanctions on Iran’s Major Crypto Exchanges

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The US Treasury has expanded its sanctions campaign by targeting four Iranian cryptocurrency exchanges, including Nobitex, the country’s largest trading platform. Officials say the move aims to disrupt Iran’s use of digital assets for cross-border transactions and sanctions evasion, while increasing pressure on financial networks linked to the country.

What to Know

  • US Treasury expands “Economic Fury” sanctions, targeting major Iranian crypto exchanges, including Nobitex, to restrict global financial access.
  • Officials say Iran uses crypto channels to bypass sanctions, prompting tighter US Treasury monitoring of digital asset flows and exchange activity.
  • Chainalysis highlights Nobitex as central to Iran’s crypto ecosystem, with alleged links to restricted groups and further executive sanctions.
US Treasury

The US Treasury stepped up its game against Iran’s digital finances by hitting four more Iranian crypto exchanges with sanctions. One of them, Nobitex, is Iran’s biggest trading hub. This move is part of the US’s larger plan to stop Iran from linking to the worldwide money systems. It’s all under their “Economic Fury” drive.

US Treasury Cracks Down on Iranian Crypto Exchanges

On Tuesday, the US Treasury confirmed that it has added Wallex, Bitpin, Ramzinex, and Nobitex to OFAC’s sanctions list. This bans US individuals and firms from giving these platforms any service or funding. So now, all US-based entities must cut ties completely with these platforms.

Officials say such exchanges helped Iran move money outside traditional banking during heavy economic pressure and many international rules. So, Iran could bypass standard financial routes when times were tough.

Scott Bessent, Treasury Secretary, stated that Iran’s leaders are more and more using digital assets to dodge sanctions and transfer funds internationally. He stressed this move is part of efforts to keep Iran from accessing money tied to banned stuff. So, they’re trying to thwart these financial workarounds.

The US Treasury connected some of these platforms to dealings with the Islamic Revolutionary Guard Corps and other banned groups. This, they say, raises serious security issues.

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Among the exchanges in question, Nobitex has gotten the most attention. This platform is considered Iran’s biggest crypto exchange and a major hub for the country’s digital asset action, so folks are pretty focused on it.

Chainalysis, a blockchain analytics firm, says Nobitex is a key player in Iran’s crypto scene. It probably handles a big chunk of the country’s trading too. They also describe Nobitex as a crucial channel in Iran’s “digital dollar pipeline.” This is where crypto moves value in and out of Iran.

The US Treasury also said that Nobitex processed transactions for sanctioned entities. Plus, they’re connected to systems that might help with state monitoring activities. So, they’re up to a lot more than just financial misconduct – it looks like they could be aiding surveillance too.

The U.S. Treasury hit Nobitex’s top brass, CEO Seyed Ali Khoee and chairman Amir Hossein Rad, with sanctions too. These moves are part of a bigger campaign that’s already locking access to tens of billions in financial paths connected to Iran.

Officials say they’ve been going after concealed banking networks and oil money routes, along with foreign middlemen allegedly aiding Iran in dodging those rules.

Also Read | SEC Strategy Targets Blockchain Growth and Digital Asset Regulation by 2030

Zagham Abbas

Zagham Abbas

Zagham Abbas is a Blockchain Infrastructure Reporter at Tron Weekly with over five years of experience covering cryptocurrency markets, blockchain infrastructure, and digital asset regulation. His reporting focuses on core blockchain networks, protocol-level developments, decentralized finance ecosystems, and major assets such as Bitcoin, Ethereum, and altcoins.
Zagham covers network upgrades, protocol changes, scalability developments, security incidents, and ecosystem adoption across leading blockchain platforms. He also provides market analysis, explaining how infrastructure updates and regulatory actions impact digital asset markets. His work delivers clear, fact-based reporting for both beginners and experienced readers. He holds a Bachelor of Arts degree and follows strict editorial and fact-checking standards at Tron Weekly.

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