U.S. Sanctions Iran's Dominant Crypto Exchange, Targeting Half Its Digital Trade

The Treasury Department designated Nobitex and three other Iranian cryptocurrency platforms on June 2, targeting the exchange responsible for 50 percent of Iran's crypto transactions in 2025. The action freezes assets of Nobitex's chairman and senior officials under terrorism and financial sector sanctions authorities. The designation reflects U.S. efforts to disrupt crypto pathways through which Iran circumvents traditional banking restrictions imposed after its exclusion from SWIFT.