US Treasury sanctions Iranian crypto exchanges tied to IRGC and sanctions evasion

The US Treasury’s Office of Foreign Assets Control has dramatically expanded its sanctions campaign against Iran’s digital asset sector, designating the country’s largest crypto exchange and several affiliated platforms for allegedly supporting terrorist financing and helping Tehran sidestep international restrictions. On June 2, 2026, OFAC placed Nobitex, Wallex, Bitpin, and Ramzinex on its sanctions list, citing their connections to the Islamic Revolutionary Guard Corps and involvement in illicit financial flows. Nobitex, which processed more than 50% of Iran’s digital asset inflows in 2025, sits at the center of this crackdown. How Iran built a crypto lifeline OFAC didn’t stop at the platforms themselves. Nobitex executives, including Amir Hossein Rad, were individually designated alongside the exchange, a signal that Treasury is holding people accountable, not just corporate entities. The June designations were followed by additional actions in August 2026, when OFAC sanctioned Shelbit Exchange and Aban Tether for maintaining connections to the previously blacklisted Iranian platforms. In July 2026, OFAC moved against several crypto wallets linked to Iran. That action had an im...