U.S. Freezes Iran's Biggest Crypto Exchange to Block Financial Loophole

The U.S. Treasury sanctioned Nobitex on June 2, the Iranian cryptocurrency platform handling half of Iran's digital money trades. The action freezes assets of its leaders. It targets a key workaround: Iran uses cryptocurrencies to bypass traditional banking sanctions imposed after losing access to global financial networks. This is part of a broader U.S. effort to tighten those restrictions.