US Treasury Sanctions Nobitex, Iran’s Largest Crypto Exchange
The U.S. Treasury Department sanctioned Nobitex, Iran’s largest cryptocurrency exchange, on June 2, 2026, adding the platform and several associated individuals to the Specially Designated Nationals (SDN) List in a move that extends compliance risks well beyond Iran’s borders.
What the Treasury sanctions against Nobitex include
The Office of Foreign Assets Control (OFAC) added Nobitex to the SDN List under the [IRAN], [SDGT], and [IRAN-EO13902] designation programs. The action targets Nobitex as an entity linked to Iran’s financial sector and operating in support of sanctions-evasion networks.
Four individuals connected to Nobitex were designated in the same update: Amir Hossein Rad, Seyed Mohammad Ali Aghamir Mohammad Ali, Seyed Mohammad Aghamir Mohammad Ali, and Seyed Ali Khoee. Three other Iranian crypto exchanges, Bitpin, Ramzinex, and Wallex, were also added to the SDN List alongside Nobitex.
Why the designation matters beyond the exchange itself
The sanctions carry secondary exposure for institutions outside the United States. OFAC FAQ 1257 warns that non-U.S. persons and foreign financial institutions can face sanctions consequences for materially assisting or knowingly conducting significant transactions involving Nobitex, Wallex, Bitpin, or Ramzinex.
Foreign banks face potential restrictions on their U.S. correspondent or payable-through accounts if they are found to have facilitated transactions for the designated exchanges. This makes the action more than a headline SDN update; it creates compliance obligations for offshore exchanges, stablecoin counterparties, and any financial institution that may have processed flows tied to these platforms.
The secondary-sanctions warning is a practical signal that global compliance teams need to reassess exposure now. Any entity that has interacted with Nobitex-linked wallets or processed transactions involving the exchange faces potential enforcement risk, a dynamic similar to the compliance ripple effects seen after recent legislative efforts to clarify crypto regulatory frameworks in the United States.
Why US authorities targeted Iran’s largest crypto exchange
The Treasury Department stated that Nobitex processed more than 50% of all Iranian digital asset income last year, making it a central node in Iran’s sanctions-evasion infrastructure. The designation under Executive Order 13902 specifically targets entities operating in Iran’s financial sector.
Blockchain analytics firm Elliptic estimated that Nobitex sent or received $7.2 billion in cryptoasset transactions in 2025, serving more than 11 million users.
Elliptic’s research also found that the Central Bank of Iran acquired at least $507 million in USDT, and that until June 2025, the vast majority of those stablecoin flows were routed to Nobitex. The link between state-level stablecoin acquisition and a single exchange underscores why OFAC chose to designate the platform.
Dr. Tom Robinson of Elliptic noted that the same on-chain data revealing these flow patterns also enables authorities and compliance professionals to trace where funds move next, suggesting that blockchain transparency cuts both ways for sanctioned entities.
“The same on-chain data that revealed these outflow surges also enables authorities and compliance professionals to trace where those funds go next.”
Dr. Tom Robinson, Elliptic
The sanctions action arrives amid broader regulatory momentum in the crypto sector. The recent volatility in Bitcoin ETF flows and ongoing institutional capital raises suggest that enforcement actions targeting sanctions evasion will continue to shape compliance expectations across the industry.
Bitcoin BTC +0.00% traded at $67,675 at the time of the announcement, down 4.8% over the prior 24 hours. The Fear & Greed Index registered 23, reflecting extreme fear across crypto markets.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
