US Sanctions Ripple Through Iran Crypto Sector as Treasury Targets Nobitex

The US Treasury has escalated its sanctions campaign against Iran's digital asset sector by targeting the country's largest crypto exchange, Nobitex, and several affiliated platforms. The Office of Foreign Assets Control (OFAC) designated Nobitex, Wallex, Bitpin, Ramzinex, Shelbit Exchange, and Aban Tether for allegedly supporting terrorist financing and helping Tehran evade international restrictions.

On June 2, 2026, OFAC placed these platforms on its sanctions list, citing their connections to the Islamic Revolutionary Guard Corps (IRGC) 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.

OFAC didn't stop at the platforms themselves; it also individually designated Nobitex executives, including Amir Hossein Rad, as part of its campaign to hold people accountable. The sanctions have an immediate downstream effect: Tether froze over $131 million in Tron addresses associated with wallets linked to Iran.